Bitcoin price (BTC/USD) rallies towards $12,000 on Monday morning

Bitcoin price (BTC/USD) rallies towards $12,000 on Monday morning

Bitcoin spent the better part of today’s morning session hovering around the level of its Sunday close. However, the situation changed in recent trading, as the coin experienced a sudden uptick that lifted its price closer to the $12,000 level. At the time of writing, the Bitcoin price was hovering around the $11,900 mark, according to data from digital currency tracker Coinmarketcap.

Bitcoin has been trying, to reclaim the $12,000 mark ever since it managed to bounce back from a 11-day low of $9,737.88 on July 2. The coin has so far had little success, as it only managed to briefly top the level on Thursday.

In a recent interview with Bloomberg TV, billionaire investor Mike Novogratz forecast that “we’re going to see the market consolidate between $10,000 and $14,000 for a while before it takes off the next leg higher”.

In today’s trading, the Bitcoin price stood at $11,891.49, as of 11:56 BST. The digital coin has gained 5.5% in the past 24 hours. Its total market cap currently stands at $211.7 billion, which represents 62.8% of the total combined value of all digital currencies.

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