Bitcoin Price Reclaims $12k as Dominance Highest Since April 2017

[Flodner]

Bitcoin (BTC) price has retaken $12,000 in a final push following several days of intense upwards price action.

Bitcoin bulls reverse multi-week downturn

Data from Coin360 showed BTC/USD hitting $12,142 on Aug. 6, bringing its weekly gains to over 25%.

The pair is now trading at its highest since July 11, and comes amid continuing tensions in the trade war which began between China and the United States.

Combined with unrest in Hong Kong and the U.S. designating China a currency manipulator this week, pressure on stock markets coincided with Bitcoin surging over the weekend.

Now, traders returned to pity altcoin investors, who have spent the majority of Bitcoin’s comeback year waiting in the wings for a rally which never materialized.

Read more: https://cointelegraph.com/news/bitcoin-price-reclaims-12k-as-dominance-highest-since-april-2017