Bitcoin Price: Pulling Up Again?
In accordance with the latest data from CoinMarketCap, the price of Bitcoin increased by 10% from the beginning of the week and currently makes $8,180. For the last day Bitcoin price increased by 5.3%. Thereat at the WEX exchange the BTC is traded at $9739, which is significantly higher than on the top exchanges (approximately $8,150).
It is interesting that Saturday night, July 21 Bitcoin price significantly dropped from $7500 to $7260 and then began to increase gradually. Trade volume increase affected Bitcoin price as well. The CoinDesk experts consider this factor as a possible reason for Bitcoin growth in the long term perspective.
Despite the increasing market optimism, BitMEX CEO Arthur Hayes considers that Bitcoin still can set new price minimum this year. He wants to see Bitcoin price at $5,000 to make sure that the market actually hit the bottom and is ready to move to the new peak at $50,000.
There are no good reasons for Bitcoin growth – experts still seek explanation for the price leap when Bitcoin grew from $6,700 to $7,500 in an hour. Some of them consider growth as a consequence of the news about BlackRock, though the company CEO partially denied the insight. Bitcoin ETF adds optimism to the market, however SEC positive decision is unlikely.