Bitcoin Still up on the Week After Failing to Hold $11,000
Bitcoin falls under the $11,000 mark again, nullifying only a portion of this week’s gains.
Tuesday, Aug. 13 — Bitcoin (BTC) falls under the $11,000 mark again as most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time.
Market visualization courtesy of Coin360
Bitcoin’s price is currently down by 3.12% on the day, trading at around $11,019, according to Coin360. Looking at its weekly chart, the coin is up by about 6.55%.
Still, multiple sources — including Cointelegraph’s market information tools — report that Bitcoin’s price is currently under $11,000. Furthermore, according to cryptocurrency information platform CoinMarketCap, Bitcoin is currently trading under $11,000 on many exchanges, including BitMex, Binance, OKEx, and Huobi.
Bitcoin 7-day price chart. Source: Coin360
As Cointelegraph reported earlier today, former Goldman Sachs analyst turned Bitcoin maximalist Murad Mahmudov believes the top cryptocurrency will hit $100,000.
At press time, the total market capitalization of all cryptocurrencies is $287.5 billion, about 6.47% lower than the value reported a week ago.
After breaking $11,000 on August 4, Bitcoin has spent most of the past week bouncing around the $11,000-$12,000 range, briefly breaking into the $12,000s at separate points on August 6, 7 and 8 before a sudden $400 slip in value on August 10.
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