Bitcoin (BTC) Recovers: 5 Reasons for Going Above $10,000 Again
© Reuters. Bitcoin (BTC) Recovers: 5 Reasons for Going Above $10,000 Again
(BTC) is back up again – avoiding once again the predictions of falling through to a lower valuation, possibly below $8,000 based on pessimistic estimations. After hovering around $9,500, BTC once again bounced strongly late on Tuesday, stopping just above $10,000.
BTC traded as high as $10,100, before retreating slightly to $9,945.83 as of 7:15 UTC on Wednesday. Here are the factors supporting BTC prices in the new month:
End-of-Month Euphoria
BTC prices failed to form a decisive trend in July, instead of moving within a range, failing to break above the $11,000 mark. As the end of July approached, trading up may have become a self-fulfilling prophecy. Also, the move is within the usual range for BTC, which has returned to volatility. Days of adding hundreds or even thousands of dollars are not rare.
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Source: investing.com
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