Bitcoin (BTC) Price Up 8.5% Over Last Week

Bitcoin (BTC) traded 2.3% lower against the US dollar during the 24 hour period ending at 7:00 AM E.T. on May 8th. One Bitcoin coin can now be purchased for about $62,353.86 on popular cryptocurrency exchanges. Bitcoin has a total market cap of $1,228.09 billion and approximately $25.05 billion worth of Bitcoin was traded on exchanges in the last day. Over the last seven days, Bitcoin has traded 8.5% higher against the US dollar.

Here’s how similar cryptocurrencies have performed over the last day:

• Bitcoin Cash (BCH) traded down 5.1% against the dollar and now trades at $455.68 or 0.00730799 BTC.
• Arweave (AR) traded down 3.3% against the dollar and now trades at $38.71 or 0.00062081 BTC.
• Bitcoin SV (BSV) traded 1.7% lower against the dollar and now trades at $63.45 or 0.00101759 BTC.
• eCash (XEC) traded 4.1% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Syscoin (SYS) traded down 6.5% against the dollar and now trades at $0.19 or 0.00000300 BTC.

Bitcoin Profile

Bitcoin (CRYPTO:BTC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on July 13th, 2010. Bitcoin’s total supply is 19,695,425 coins. Bitcoin’s official Twitter account is @bitcoin and its Facebook page is accessible here. The official website for Bitcoin is bitcoin.org. The Reddit community for Bitcoin is https://reddit.com/r/bitcoin and the currency’s Github account can be viewed here. The official message board for Bitcoin is bitcointalk.org.

According to CryptoCompare, “Bitcoin is a decentralized cryptocurrency that uses peer-to-peer technology and a blockchain to record transactions. It was created by Satoshi Nakamoto and the first block was mined on January 3, 2009. Bitcoin transactions are recorded on a blockchain, which is a distributed ledger that can be accessed by anyone to verify transactions. Transactions are verified by miners, who are rewarded with a set amount of Bitcoin and transaction fees. The supply of Bitcoin is limited to 21 million coins and it is divisible to eight decimal places. A wallet is needed to use Bitcoin and it consists of a public key, which is used to send and receive payments, and a private key, which is used to control the wallet. Bitcoin can be used for a variety of purposes, including everyday transactions, as a store of value, or for investment.”

Buying and Selling Bitcoin

Investors seeking to trade Bitcoin using U.S. dollars directly can do so using Coinbase, Changelly or GDAX.

BTC/USD price chart by TradingView