Dramatic Spike In Bitcoin Price, Volume In 30 Minutes
Bitcoin price shot up by more than $600 in 30 Minutes Tuesday, and the dramatic move resulted in substantial spike in its volume.
The most popular cryptocurrency opened at $6,726.40 on Tuesday, and within a short span of time it reached $7,368.22. Later in the day, the price hit a market high of $7,408.28.
Wednesday, the momentum was maintained. At one point the price reached $7536, the highest since June 10.
An unexpected corrective rally on Monday evening pushed not only the price of Bitcoin but also other major digital assets by large margins.
The price of bitcoin, Bitcoin Cash, ether, Ripple, and EOS increased by 6 to 10 percent, and the valuation of the cryptocurrency market surged by more than $20 billion to $292 billion.
Bitcoin was the biggest gainer among the top 10 cryptocurrencies by market capitalization.
Bitcoin market witnessed a similar rally by a big margin on April 9, when the price shot up from $6,900 to $8,000, that too within 30 minutes.
From there the Bitcoin price had risen close to $10,000.
by Joji XavierRTTNews Staff Writer
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