Newsflash: Bitcoin Price Spikes Near $6,800 in Crypto Market Bounce

Bitcoin price shot upwards with bullish momentum on Wednesday’s trading, hitting a 13-day high of $6,784 (Bitfinex).

In yet another effort to push toward $7,000 in what has largely been a bear market for much of 2018, the world’s leading cryptocurrency jumped 2.5 percent in an hour during Wednesday’s trading amid overall 10 percent gains in a seven-day period.

After a steady trading period above $6,500 for much of the day, bitcoin price spiked from $6,550 at 13:10 UTC to a new July high of $6,784 within 5 minutes.

Despite a pullback, bitcoin is currently trading above $6,700 at press time.

IOTA is the biggest gainer among the top coins during today’s overall rally, leaping nearly 5 percent. Bitcoin Cash and EOS are the other big performers among the large-cap cryptocurrencies.

The overall cryptocurrency market has seen marked gains this week, raking in $25 billion since the turn of the month. The overall value of the entire crypto market cap is currently above $275 billion, according to data from Coinmarketcap.