Bitcoin Price Up Over 17% in 24 Hours: BTC Emerges From Its One Week Hangover

After the wild party that ended with the Bitcoin price reaching $13,813―its highest level in 2019―on June 26 (19:00 UTC), came the one-week hangover that took the price down all the way to $9,782 on July 2 (07:00 UTC). Now, though, the Bitcoin price is looking a lot healthier, having gone up over 17% in the past 24-hour period.

First, here's the two-week price chart that illustrates what a rollercoaster period this has been for Bitcoin, the rise from $9,155 on June 19 (06:00 UTC) to $13,813 on June 26 (19:00 UTC), the fall back to $9,782 on July 2 (07:00 UTC) and the rise to $11,566 (05:30 UTC) on July 3:

BTC - 2 Week CC Chart - 3 July 2019.jpg

And at the time of writing (July 3, 06:15 UTC), as you can see in the 24-hour price chart below, Bitcoin is trading at $11,455, up over 17% in the past 24-hour period:

BTC - 24 HOUR CC CHART - 3 JULY 2019.png

Currently, the total reported market cap for all coins/tokens is $311.5 billion, while Bitcoin's market cap is $205 billion.

Although Bitcoin's price is still down 43% from the all-time high (ATH) it reached in December 2017, it's year-to-date return on investment (ROI) is an impressive +211.36%.

All the other coins/tokens in the top 30 are currently in the green. Here are how some of the most popular altcoins are doing at the moment:

Altcoins - 3 July 2019.png

The three biggest gainers (with respect to USD) in the top 30 (by market cap) are:

  • #15 Chainlink (LINK): $3.74 (+12.30%)
  • #21 Tezos (XTZ): $1.12 (+28.60%)
  • #24 Maker (MKR): $655.92 (+13.81%)

As for what the top crypto analysts and traders think about Bitcoin's latest price action, here are a couple of reactions:

 

Featured Image Credit: Photo via Pexels.com

Bitcoin Whale Reportedly Risks 800 BTC for $0.01 Payout in Dogecoin

A bitcoin whale has supposedly risked a total of 800 BTC, worth around $5.8 million, to help the cryptocurrency remain at the $7,200 mark in a bid to win a bet he made on social media.

A Twitter exchange between Dogecoin supporter Samu and bitcoin whale Joe007 shows that both agreed to bet on bitcoin’s future price, with Samu agreeing to pay 5 million DOGE (around $11,000) to the whale if BTC traded above $7,100, and the whale agreeing to pay Samu the same amount if it was below $7,100 at 13:00 UTC on December 12.

The BTC whale ended up winning the bet as the price of the flagship cryptocurrency didn’t drop below the agreed-upon mark. Some of those watching the thread, however, noted that something seemed to be going on before the bet’s deadline expired.

The bet was made according to the price of the Bitfinex cryptocurrency exchange, and a trader soon alleged on social media the BTC whale could’ve placed an 800 bitcoin order to “defend” the $7,200 so the cryptocurrency’s price wouldn’t dip.

While it isn’t possible to tell whether Joe007 was the one behind the 800 BTC order, the whale seemed to warn Samu before the bet was made that he was extremely confident he was going to win, tweeting out “you really don’t want to make this bet, believe me…”

After the deadline the posts suggesting market manipulation came out so Samu said he “got revenge” on the bitcoin whale cheating, by offering to pay him only 6 DOGE, currently worth about $0.013.

The Dogecoin addresses Joe007 showed as the destination for the funds currently has little over 10,000 DOGE in it, worth close to $22. Some argued Samu should have paid the funds as no terms were defined in the bet, while others agreed with him.

Featured image via Unsplash.