Bitcoin Gets Out of Its Funk, Surging Over 7% in 20 Minutes

Siamak Masnavi

On Wednesday (December 4), according to CryptoCompare's average price across exchanges, Bitcoin finally shook off its three-day slump, and surged from $7,230 at 13:00 UTC to $7,620 at 13:20 UTC -- i.e. a price rise of 5.4% in just 20 minutes.

The price surge on several individual exchanges was even more extreme, e.g. 7.39% in the case of Bitfinex.

Here is the 24-hour BTC-USD price chart from CryptoCompare:

BTC-USD 24-Hour - 4 Dec 2019.png

Over on Bitfinex, the Bitcoin price jumped from $7,266 at 13:00 UTC to $7,803 at 13:20 UTC:

Bitfinex - BTC - 24 Hour - on 4 Dec 2019.jpg

This prompted freelance crypto journalist Joseph Young to make the observation on Twitter:

Prominent crypto analyst/trader Josh Rager had this to say about today's price action:

At the time of writing, Bitcoin's market cap is around $135.4 billion, meaning that its market cap dominance is 66%.

Although Bitcoin is down 0.8%, 20.73%, and 29.39% against USD in the past 7-day, 30-day, and 90-day periods, it is still up an impressive 91.97% in the year-to-date (YTD) period.

Featured Image Credit: Photo via Pixabay.com