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Alex Dovbnya

Bitcoin has pared some gains after coming close to hitting the $23,000 level

Bitcoin, the world’s largest cryptocurrency, came close to reclaiming the $23,000 level on July 18, soaring to as high as $22,958 on the Bitstamp exchange. 

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The bellwether cryptocurrency reached its highest level since June 14, recovering more than 30% from the local bottom of $17,592 that was recorded on June 18.

Bitcoin has since pared some of its recent gains, currently trading in the red.

The recent uptick in price has contributed to improving market sentiment, ending the longest streak of “extreme fear” to date.  

Bitcoin is still down 68.15% from its record peak. 

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