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It has been a day of gains for bitcoin price in Thursday’s trading as price struck $5,848 following a sharp spike before midday (UTC).
Bitcoin prices slipped this week following the Bitcoin Gold hard fork, leading to a sell-off by traders to stake their bets on altcoins. However, a lack of support for the new cryptocurrency has seen traders flock back to bitcoin with prices recovering after a week-long slump which saw price strike a low of $5,365 (Bitfinex) yesterday.
On Thursday, bitcoin price has continued its climb to reach a high of $5,848 at press time, gaining $483 from its lowest level yesterday.
Developing…Stay tuned for today’s market analysis.