x
By Joji Xavier | Published: 12/31/2019 9:53 AM ET
Bitcoin may be standing nowhere near its all-time high of nearly $20000 reached two years ago, but as 2019 comes to a close, the most popular cryptocurrency has managed to regain the strength it lost a year ago.
The virtual currency was trading at $7,224 as of this writing - 95 percent increase from $3689 recorded on 2018 December 31.
From its weak position at the beginning of 2019, Bitcoin has been on a strong recovery path in the following months. Despite a struggling crypto market, Bitcoin continued to grow with frequent bullish movements.
The first two quarters proved decisive with more than 300 percent improvement in value.
Bitcoin touched the year's peak of $12575 on July 9. And a bearish outlook emerged in the third quarter of the year, which witnessed some dramatic fluctuations in price levels.
Bitcoin experienced mostly a downward trend during the rest of the year, and in the last quarter it struggled to break above $7500.
After dipping to $6538 on December 17, the price has remained consolidated above $7,000.
In a market where the trading volume and market capitalization of all cryptocurrencies suffered, Bitcoin managed to stand out, less affected.
Tuesday, Bitcoin's market capitalization remains at $131.98 billion, with a 24-hour trade volume of $21 billion, according to CoinMarketCap.
For comments and feedback contact: editorial@rttnews.com
Article written by an RTT News Staff Writer, and posted on the RTT News.com website.
Article reposted on Markethive by Jeffrey Sloe
