Data from all major stock exchanges showed Bitcoin move to $7,700. The cryptocurrency was expected to move between $7,720 and $7,900 in the coming days. Last week, Bitcoin has seen a decline, reaching $7,096.
Cryptocurrency news are keeping the markets optimistic about the possibility of greater returns for Bitcoin, which so far has failed to recover what it achieved in May, when it reached a peak of $9,922.
Earlier in the week, more confident signs emerged after new calls for buying Bitcoin. Cryptocurrency experts pointed out that all digital currencies are cheap now, and it a great time to start buying and monitoring what will happen next. This comes with increased confidence among digital currency traders, at the possibility of institutional investors entering the digital currency market collectively — which will significantly boost prices.
Like most digital currencies on the market today, Bitcoin Cash has proven to be both interesting and a bit confusing at the same time. This is due to a bad start last week, as most markets lost more than 10% in just 24 hours. This led to a drop in the currency’s price, moving from $970 to $889 rapidly. Although such declines are common in digital currencies, they are not a good sign.
However, this time the situation changed, as Bitcoin Cash has recovered well since that decline. Thanks to strong gains almost every day since May 29, the price now rose to $1,128 which is following a very positive trend although another drop may occur at any moment. This current profit is the result of a 9.41% rise in BCH/BTC over the past 24 hours, which in itself is already positive. This seems to confirm that Bitcoin will face some difficulties to gain market traction.
Bitcoin Cash also recorded to a strong trading volume of $747.27 million, which is not necessarily the highest volume that the BCH has experienced in the past, but is still very important. However, the total provisional volume is still relatively low.
At the moment it is clear that there is positive momentum in all cryptocurrency markets, and this alone is more than great news for market participants at this time.