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Newsflash: Bitcoin Price Pierces $8,000 as Bulls Defy Bearish Warnings

By CCN: The bitcoin price zoomed across the psychologically-crucial $8,000 mark as the flagship cryptocurrency continued to claw back the losses it incurred during the recent market downturn.

Bitcoin Price Zooms to Four-Day High

bitcoin price recovers past $8,000

Bitcoin zooms past $8,000 shortly after 12:15 pm ET. | Source: BitcoinWisdom.io

Bitcoin had languished below $8,000 for much of the past three days, following a brutal correction that smacked BTC/USD as low as $7,432 on Bitstamp, more than 18 percent off the year-to-date peak of $9,096 it set on May 30.

However, shortly after 12 pm ET, the bitcoin price began to trend upward, and at 12:16 it eclipsed the $8,000 mark. That triggered another small bump, and by the time of writing, BTC had popped as high as $8,100 to post a four-day high and pump its market cap up to $143 billion.

bitcoin price

The bitcoin price hits a four-day high after dropping below $7,500. | Source: BitcoinWisdom.io

Other top cryptocurrencies enjoying bullish pivots included litecoin (+15.19%) and tezos (+14.84%), though most coins gained close to 5% over their previous-day levels.

Altogether, the crypto market cap rose to $258.7 billion.

Developing…Check back for updates. Click here for a real-time bitcoin price chart or here to read CCN’s latest crypto market analysis.