On Thursday, the price of Bitcoin forked to $42,000, just two days after the same price reached record-breaking prices for the digital currency. The price of bitcoin fell from $42,000 to $41,000 in just a few hours, but it seems that this is not enough for the rest of the cryptocurrency community.
On July 18, 2017, Bitcoin (BTC) reached a new all-time high of $4,450. This was the second time in two days, and the third time in the last seven, that the price of Bitcoin hit over $4,000. Bitcoin has risen an astounding 4,500% in the last three years. A year ago, Bitcoin was worth less than $1,000. While the Bitcoin price is up over 50% from this time last year, it is still down 33% from the all-time high set in December of last year.
Bitcoin (BTC) has experienced a sudden and sharp increase in price in the last 24hrs, as the cryptocurrency reached $40,000 for the first time ever. This is the second time in two days that Bitcoin has pierced the $40,000 barrier, as it did so on Tuesday. The last time Bitcoin saw such a sharp increase in price was back in December 2016, when it went from $2,000 to $17,000 in a matter of days.. Read more about ethereum price and let us know what you think.
Bitcoin’s (BTC) volatility resurfaced in the news when the original cryptocurrency temporarily regained the $40,000 mark before resuming its decline to $39,000 levels. Following a two-week bearish trend that began on July 15, Bitcoin is attempting to breach the $40,000 barrier for the second time in two days.
According to statistics from Cointelegraph Markets Pro and TradingView, BTC had a bull run beginning on July 21st, resulting in a 34.13 percent increase in only seven days.
The increasing participation of conventional banks and entrepreneurs like as Elon Musk and Michael Saylor, according to the crypto community, is directly responsible for the soaring BTC price. Amazon’s reported participation in cryptocurrency drove the price higher this week, but the internet titan subsequently refuted the claims.
While current price indications indicate that Bitcoin will maintain its current support range of $30-40,000, BTC still needs to see a $20,000 positive move before it can reclaim its previous splendor of $60,000.
The rapid rush to leave an instant resistance does not accompany the $30,000 corridor, despite what may seem to be a favorable signal. Bitcoin’s price is now hovering around $39,500 at the time of writing.
Bitcoin price is aiming for a higher bottom as traders predict a $45K breakthrough in the coming weeks.
In a recent poll of portfolio managers and equities strategists conducted by CNBC, 44 percent of respondents predicted that Bitcoin’s price will fall below $30,000. The remaining 56% of investors were more optimistic, with 6% expecting Bitcoin to hit $60,000, close to its all-time high of $65,000.
After a brief dip to 3600+ a short while ago, Bitcoin (BTC) is now back up over $40K. Looking at the chart, the last time Bitcoin gains this much was on September 1st, 2017, when the cryptocurrency jumped from $4,400 to $4,800. Bitcoin has made a very slow climb back up since then, with a high of $4,800 again on the first of this year — then a low of $3,400 last Thursday. Now, after a few brief dips, we’re back up over $40K — so if you bought Bitcoin at the beginning of this year, you’d be up over 3,200% so far.. Read more about when will bitcoin break $50k and let us know what you think.
Related Tags
This article broadly covered the following related topics:
- btc price
- ethereum price
- bitcoin price prediction
- bitcoin price live
- bitcoin price
