Img source : newsbtc.com
According to the Bitcoin CoinDesk Price Index, the world's largest cryptocurrency price by market capitalization jumped $ 200 in just two hours on Wednesday and changed hands at $ 8,015 during the press - an increase not seen since May 24.
Bitcoin prices have declined since May 24 and reached fresh year lows at $ 5,785 on June 24. After that it started to gain momentum to move back above $ 8,000, reflecting a nearly 40 percent increase since the June low.
Data from Bitfinex showed bitcoin trading volume more than doubled amid price movements, after rising from $ 4.9 million to $ 12.6 million in just four hours in exchange. Bitfinex also said bitcoin still fell nearly 53 percent from its highest annual high of above $ 17,000 seen in January.
Meanwhile, data show that Bitcoin market capitalization dominance has also increased significantly over the past two months.
According to CoinMarketCap, bitcoin accounts for 37 percent of the total cryptocurrency market capitalization in mid-May. But the data has risen to 47 percent by press time, pushing bitcoin dominance to levels not seen since late December.
Specifically, bitcoin is the only top 10 cryptocurrency by market capitalization that has seen growth over the past 24 hours, with other large crypts seeing a 1-5 per cent drop.
Bitcoin price is up on this week
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