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Bitcoin recovers $21,000 on US stock market gains

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Bitcoin broke the $21,000 mark for the first time this month.
Bitcoin broke the $21,000 mark for the first time this month. (Pixabay)

Bitcoin broke the $21,000 mark for the first time this month.

According to CoinMarketCap, a virtual asset market site today (7th), Bitcoin is recording $21,622, up 5.26% from 24 hours ago.

It is the first time since June 28 that Bitcoin has re-broken the $21,000 level.

It is analyzed that the reason Bitcoin soared is because the US stock market has rallied. US stocks rose 1.12% on the Dow, 1.50% on the S&P 500, and 2.28% on the Nasdaq.

Ethereum, the altcoin leader, is also recording a large upward trend. Ethereum is trading at $1236.54, up 4.2% from 24 hours ago.

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I am a contributor to Advancetec.co.uk. I am fascinated by technology overall, especially crypto and it's potential to disrupt the global financial system. But until that future comes, I am perfectly content immersing myself in gaming, movies, gadgets, and all of the other wonders of the modern world.