Bitcoin Price Blasts Through $12,000 While Dow Tumbles More Than 500 Points

Libra Coin News
Wed, 08/07/2019 - 14:30
Alex Dovbnya
Bitcoin is back on track after a minor setback with $12,900 being another possible target  
Cover image via 123rf.com

The Bitcoin price has surged above $12,000 for the second time this week. At press time, the number one coin by market capitalization is trading at $12,047 on the Binance cryptocurrency exchange.   

image by binance.com 

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According to cryptocurrency trader Luke Martin, Bitcoin now has the potential to surge above $12,900, which could prompt another fakeout (similar to the one that took place on Tuesday).   

This sudden spike came right before the opening bell in the US. In sharp contrast to BTC, the US stock market took a hit on Aug. 7 with the Dow losing 535.37 points (2.06) percent at the time of writing.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.