Bitcoin Falls Short of Breaking $7,000, Other Altcoins See Slight Losses

August 6: Bitcoin is making several attempts at breaking back above the $7,000 mark, staking its recovery after a sharp market tumble this weekend.

Bitcoin is trading around $6,974 at press time, down 1.17 percent on the day.

The leading cryptocurrency has made several attempts to break above the $7,000 threshold, trading as high as $7,127 in early trading hours.

These fleeting spikes failed to hold as of press time however, and the coin's losses on the week now tally above 14 percent.

Ethereum has seen negligible fluctuation on the day to trade around $403, despite several attempts at breaking to a higher price point early this morning.

Most of these losses were posted during a steep decline late July, with the asset subsequently trading sideways through most of August.

On CoinMarketCap's listings, most of the top ten coins are seeing small fluctuations within a 3 percent range, with only IOTA seeing a more significant price change, losing 6.5 percent to trade around $0.85 at press time.

Yesterday, the alt decoupled from the wider market to grow over 7 percent, with an apparent retracement setting in today.

Among the top twenty coins by market cap, Ethereum Classic continues to claim further gains, up a further 6.3 percent on the day to trade at $18.44 at press time.

"What is cryptocurrency used for? First it was darknets and satoshi dice. Then crowdfunding and trading. Now we finally have the tech and critical mass for P2P cash and gaming. We'll soon see crypto encroach on Western Union and PayPal and Pokemon."