Bitcoin Posts Solid Gains to Break Above $7,000 While Altcoins See Green

Bitcoin has seen solid growth to break back above the $7,000 mark today, August 7.

Bitcoin is trading around $7,118 at press time, up around 2.5 percent on the day.

Today's growth has not yet pushed the coin's weekly price change back into the green which still remains at around an 8 percent loss.

Fundstrat's head of research and well-known Bitcoin bull Tom Lee today used his firm's recently launched Bitcoin Misery Index to evaluate the coin's current market momentum.

Ethereum is currently trading around $409, up around one percent on the day to press time.

The altcoin is now closing its losses on its weekly chart: while the asset is still down around $20 from its price point at the beginning of August, only yesterday its weekly value loss was above $50. Closing down to a 6 percentage loss on the week, Ethereum is still around 1.5 percent in the red on its monthly chart.

On CoinMarketCap's listings, all but three of the top ten coins by market cap are in the green, although gains are capped at a modest 2 percent over the 24-hour period.

Bitcoin Cash is the strongest performer among the top ten, seeing around 2.4 percent in growth to trade at $708 at press time.

EOS and Stellar are also seeing solid gains, with the former up around 2 percent to trade at $7.15 and the latter up over 2 percent to hit $0.24 at press time.

Total market capitalization of all cryptocurrencies is around $257 billion at press time, edging upwards as the market stakes its recovery, yet still down around $20 billion on its weekly chart.