Bitcoin finally breaks through the $10,000 barrier again

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Bitcoin (BTC) and the rest of the altcoin market finally managed to recover from the recent price slumps seen in the past week. Most major altcoins are finally back in the green zone, recording gains from 2% to 11% in the past 24 hours.

The total market capitalization of all cryptos has increased from $266 billion to $278 billion as of July 25.

Bitcoin and altcoins 24-hour chart

Bitcoin (BTC) is up today by a robust 3.2% bringing the OG crypto to $10,085.41 at the time of writing as per data from CoinMarketCap. Despite the coin being short of its intra-week high of over $11,000 (July 21), today’s price recovery has brought BTC to a rounded 4% gain on its 7-day chart.

The second-largest crypto Ethereum (ETH) has recorded a great gain of close to 7% and is trading around $222 at the time of writing. Despite fresh fluctuations, the token has held ground above $200 consistently throughout its 7-day chart. On the week, ETH is up by 5.2%.

XRP is seeing a tepid 2.3% gain on the day, while among the remaining top ten coins numerous altcoins are seeing more notable upward momentum: Litecoin (LTC), Bitcoin Cash (BCH) and Stellar (XLM) are all posting solid 4-6% gains. However, it is EOS which has performed the best, recording a solid 8% gain and trading at $4.53 at the time of writing.

In terms of best performers in the top 20, NEO (NEO) is up by nearly 8%. Cardano (ADA) has also seen an impressive 6.3% gain and Cosmos (ATOM) is up by over 7% on the day.

The fact that the altcoin markets have performed so well has led to many analysts to predict that a resurgence of the alt markets is on the way.

Lastly, the founder and CEO at Pantera Capital, Dan Morehead believes that the price of bitcoin could hit as high as $356,000 in the next three years.