Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000

Monday, May 27 - following a mild correction yesterday, the crypto markets have seen strong positive momentum today, with bitcoin soaring to its highest price point in over a year.

Bitcoin has reported over 9% in growth on the day and is trading at $8,727 by press time.

Bitcoin has seen considerable volatility this week, posting an intra-week low of around $7,550 on May 23 before surging to today's new price peak.

Bitcoin last traded in the $8,700-800 range over a year ago, in the second week of May 2018.

On the week, Bitcoin has sealed a bullish 10.5% gain.

Today's gains brings the altcoin back to its mid-month earlier price peak, and in a longer view, to price levels last seen in early September 2018.

The market-wide price rally includes a 12.1% gain for fifth largest crypto litecoin, a 9.6% gain for sixth ranked coin eos and an 8.2% gain for bitcoin cash, ranked fourth.

Bitcoin cash's gains come despite new reports of an apparent double spend that followed its mid-May hard fork, as Cointelegraph has reported.

These include bitcoin sv - ranked 12th and soaring almost 25% on the day - an 11% gain for 19th largest coin nem and an over 9% gain for tron, ranked 11th. The total market capitalization of all cryptocurrencies is currently around $269.6 billion - back to levels last seen in early August 2018 - with bitcoin dominance at 57.3%.Total market capitalization of all cryptocurrencies.

As Bloomberg today reports, bitcoin's rally over the past month is ostensibly its strongest since before its historic late 2017 price surge - with an almost 70% gain on the month.