Bitcoin has been a major force in the cryptocurrency market and still ranks as the number one digital coin based on its value and market cap.
This digital asset has continued to shine since October began after losing over 50% of its value during the Bitcoin crash in May.
Bitcoin slightly Gains 1.06%
In the last 24 hours, Bitcoin has slightly gained 1.06% to trade at $61,221.24 at about 4:34 am UTC on Saturday.
On October 21, Bitcoin traded in a range of $63,807.96 — $66,930.39, and back to $61,321.24, today. These figures indicate substantial volatility over the last 24 hours. In the same time frame, its trading volume decreased by 18.221% at about $36.98 billion.
Though trading volume decreased, the relative strength index of Bitcoin stands at 62.26. This shows that massive buying is ongoing, the coin has not been overbought.
Bitcoin witnessed a strong push on October 1 where it traded above $48,000.
Since then, the virtual asset has seen steady growth with several higher highs and lows set. On April 15, Bitcoin hit an all-time high of $65,000 and by May the price came crashing, making the asset lose over 50% of its value.
This Bitcoin crash came after electric vehicle maker, Elon Musk, in a tweet, announced that Telsa will no longer accept Bitcoin as a payment method for its Tesla vehicles, citing environmental concerns.
However, on Thursday, Bitcoin broke the previous all-time high of $65.000 when it traded above $66,000. This showed strength for the momentum of the asset.
