Bitcoin rose above $11 000 for the first time in 3 weeks

After weeks of intensive trading Bitcoin (BTC) has risen above $11 000 on August 4th for the first time in 3 weeks. BTC started regaining ground that was lost in July when price dropped below $10 000. BTC dollar value spiked above $11 700 earlier today before it jumped back in area around $11 690.

BTC has kept its momentum as dollar value increased by 9,18 % in past 24 hours. Traders enjoy a major bullish trajectory in the past few days soaring 15 %. The cryptocurrency market got itself from negative red zone as other cryptocurrencies in TOP 10 by market cap also gained some of the lost ground. Dollar price of Ethereum rose by 7 % in past 24 hours to 234,79 USD per coin. Litecoin surged by 11,21 % breaking 100 USD resistance level.

Market Cap of the whole cryptocurrency market is now more than $309 billion. BTC dominance is rather high at 67,5 % with market cap of BTC at $209 billion. Global risks fuel this major surge on cryptocurrency markets as Donald Trump plans to introduce new tariffs on Chinese goods from 1stSeptember of this year.

According to Wolfie Zhao, analyst at Coindesk, the total computing power now dedicated to securing the bitcoin blockchain has set yet another record on Monday 2:52 UTC.

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