Bitcoin (available on Coinbase) price is on a bull-run right now. In fact, the entire crypto market seems to be making a bullish turn as sharp gains can also be seen across a number of aLTCoins.

At the time of writing, Bitcoin (available on Coinbase) is up 4.6% on the 24-hour basis and is currently trading at $6,733 according to coinmarketcap.com

Earlier in the day, Bitcoin (available on Coinbase) price hit its 16-day high of $6,745, but it could easily hit that high again by the looks of things.

Bitcoin (available on Coinbase) Price Recovery

Bitcoin (available on Coinbase) is recovering from a five-week low of $6,100 that it hit on Wednesday. This is interesting because news surrounding the coin hasn’t been great this week; 6,000 Bitcoin (available on Coinbase)s from Zaif exchange were stolen, and a pretty big flaw in Bitcoin (available on Coinbase)’s code was discovered. (It has since been fixed.)

Usually, negative news creates negative sentiment, and this is reflected in the price. You’d have been forgiven for thinking Bitcoin (available on Coinbase) would be dwindling in the red.

Are ALTCoins Carrying Bitcoin (available on Coinbase)?

But what’s more than likely happening is that Bitcoin (available on Coinbase) price is being fueled by investors demand for aLTCoins.