[ad_1]
The price of Bitcoin again reached $ 8,000, continuing the bullish momentum accumulated for more than a week. Bitcoin's performance currently contrasts with other altcoins, as they do not have good results yet.
At the time of writing this article, the Bitcoin price is $ 8,003. Representing a gain of 3.33% in the last 24 hours. Notably, this is the highest level seen since May 24 this year, which means that Bitcoin has peaked in the last 60 days.
This recent reversal of the Bitcoin price trend seems to suggest that the long time fallen since May 24 and the feeling of the bearish Bitcoin market could have come to an end.
If you compare the current price of Bitcoin with the annual minimum of $ 5,785 seen a month ago, this would represent profits of more than 38% in 30 days
– Advertising –
However, the price of bitcoin continues to fall by almost 53% from the peak reached in February, when the currency was valued at more than $ 17,000. Even so, the recent gains seen over the last month speak a lot about the high price volatility that Bitcoin is capable of doing.
Also, it's not just the price of bitcoin that is increasing. According to Bitfinex broker data, Bitcoin's trading volume is increasing, from $ 4.9 million to $ 12.9 million in just four hours
. According to CoinMarketCap data, in early 2017, Bitcoin 's dominance would have dropped 75% for the first time, as at that time other cryptocurrencies had a large market capitalization.
In addition, the impressive gains in Bitcoin prices in 2018 saw a relative market capitalization of 50%. Since then, Bitcoin's share in the total market capitalization of cryptocurrency has been firmly set below the 50% line.
However, recent increases in the Bitcoin price have taken the relative part of capitalization. the cryptocurrency market rises to 50%, reaching 47% at the time of the realization of this article.
This comes from the hand of a series of positive news related to Bitcoin and cryptocurrencies in general, many of which were covered by ToshiTimes. Since then, there has been a steady flow of positive news.
To name only a few, "the South Korean Financial Services Commission has decided to create a cryptocurrency department." ", And" the Bank of Canada said that the possibility that the problems arising from the double expenditure of cryptomurencies are unrealistic. "
Many are speculating on whether the upcoming ETFs Bitcoin (exchange-traded funds) could cause a massive influx of capital from institutional investors.An EU study has also recently discovered that the competitiveness of crypto -movements on the market is "good".
It remains to be seen whether this upward market sentiment continues, but things are definitely improving at this time.
Source image: "Flickr"
Original Author: Rasmus Pihl
.
Source link
