Bitcoin climbs to $8,000 for the first time since July 2018

Following a successful break through the $6,400 resistance, Sunday saw the world's most popular cryptocurrency Bitcoin (BTC) reach a high of $7,500. The spike cooled off during the early hours Monday with the crypto trading at around $7,100 before reaching $8,000 for the first time since July 2018.

Currently, all the top cryptocurrencies are trading in the green, and at the time of press, Bitcoin is trading around $8,177, up over 13% in the last twenty-four hours. Bitcoin's weekly gains are up at an astounding 38.88%.

Altcoins Also Rallying:Furthermore, the 2nd largest cryptocurrency by market cap, Ethereum is up by 7.57% and is trading at $211 at press time with a weekly gain of over 15%. Ripple (XRP) is seeing a slightly less significant daily increase, but all the same is also up by 5.16% and trading at $0.39 around the time of press. XRP has reached as high as $0.335 which was its weekly high point and the altcoin's weekly gains are up by a modest 7.94%.

In addition to this, Bitcoin cash (BCH), Binance Coin (BNB), IOTA (MIOTA), Tezos (XTZ) & Ontology (ONT) have all reported gains in the double digits from 10% to 17% as per data from CoinMarketCap.

The total market capitalization of all cryptocurrencies is around $242 billion at the time of press up from yesterday's $209 billion.

As opposed to cryptocurrencies, the stocks have seen a significant slump today as China raised tariffs on goods from the USA. The Dow Jones Industrial lost 617.38 points (2.4%), to 25,324.99 marking its worst session since January. S&P 500 also plummeted by 2.4% to 2.811.87 and the Nasdaq Composite dropped by 3.4% its most significant single-day loss of the year so far to 7,647.02.

Lastly, Oil futures have also reported losses, Brent crude futures is down by 42 cents at $70.20 a barrel.

It seems like the time to invest in Bitcoin and cryptocurrencies in general. To purchase Bitcoin and other cryptocurrencies, visit the OVEX site here.

LINK:	https://www.thesouthafrican.com/cryptocurrencies/bitcoin-climbs-8000-f...
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