Bitcoin (BTC) is on track for its first positive weekly gain since late May.
The digital assets showed market strength as its value increased 2.2 per cent on Monday. This took BTC’s price to $13,430.
Sentiment was bolstered by a $180 price increase on Wednesday. However, hopes of further bullish price movement were squashed as prices tumbled 1.9 per cent on Thursday. It closed at $13,298.
BTC’s price is correlated to movements on major stock markets. Thursday’s losses are tied to heightened pandemic concerns, triggering losses on US stock markets.