Bitcoin Inching Closer to $11,000 as Volumes Surge

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Thu, 10/08/2020 - 15:10

Alex Dovbnya

Bitcoin has just surged to its highest level since Sept. 21 on the Square news

Bitcoin Inching Closer to $11,000 as Volumes Surge

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Bitcoin, the leading cryptocurrency with a market cap of over $201 bln, is currently flirting with the $11,000 level after hitting an intraday high of $10,957 on the Bitstamp exchange at 14:51 UTC.

The bellwether cryptocurrency has seen a strong uptick in trading volumes over the past few hours.

As reported by U.Today, Bitcoin started breaking out on the news about Square, a publicly listed company that is worth over $81 bln, investing $50 bln into BTC.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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, can be contacted at alex.dovbnya@u.today.