Bitcoin has wrestled back its majority market share for the first time all year, outpacing ether and Bitcoin Cash.

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Key takeaways

  • Although its weekly price is down, bitcoin managed to weather the cryptocurrency market storm.
  • Trading volumes increased by about 11% week-on-week, amidst a suffering cryptocurrency market.
  • The plunging Turkish lira causes a spike in bitcoin interest.

The world’s most popular digital currencybitcoin, has experienced much volatility over the past week.

Starting the week Tuesday 7 August at US$7,112.99, the token sank as low as US$6,226.22 in less than 24 hours.

From there, bitcoin enjoyed a solid resurgence, peaking at US$6,621.00 on Thursday 9 August before again slipping down to a low of US$6,125.43 on Friday 10 August, amidst a number of sharp market fluctuations.

The token jumped up to US$6,451.77 on Saturday before tumbling down again throughout “bloody” Monday.

At the time of writing, the coin was valued at just US$6,133.25.

Trading volumes over 24 hours were driven higher over the last week, up from US$4.68 billion to US$5.22 billion.


Author: Temitayo Olojede ,

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Editor Bitkonga

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