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Bitcoin (BTC) Recovers: 5 Reasons for Going Above $10,000 Again

© Reuters.   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.

Forgetting Regulator Pre…

This article appeared first on Cryptovest

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Source: investing.com
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