Bitcoin crosses USD 8,000-mark first time in two months

Bitcoin is slowly but surely gaining steam and has reclaimed $8,000 level. The cryptocurrency is at two month's high after dropping below $6,000 in the last week of June.

Bitcoin has traded flat much of July remaining above $6,000, barring a couple of days. It has, however, in last 10 days gathered steam and surged by $1800, according to data available at CoinMarketCap.

At the time of writing the report, it was trading at $8,019, as per Coin MarketCap index. The market cap of the currency has also reached $137 billion.

In last 24-hours, bitcoin has surged about 4%. In July, it has registered a growth of 27%.

The last couple of months have been gloomy at the cryptostreet with bitcoin touching the year low last month. The market cap of the currency had also dipped below $100 billion mark for the first time in 2018.

Unusually, other major cryptocurrencies were trading in the red. Ethereum was down 0.25% in the last 24 hours, exchanging hands at $465. Similarly, XRP (Ripple) was down 1.25% trading at $0.45.

Bitcoin cash was up 1.26% and EOS, the fifth largest cryptocurrency by market cap, was trading down by 2.05%.

The trend is not familiar as generally other cryptocurrencies follow bitcoin’s cue, inasmuch, their rise/drop chart looks almost identical to bitcoin’s chart.