Bitcoin price is the deciding factor which predicts the mood of the markets. A positive trend in Bitcoin prices indicates the entire cryptocurrency market will flourish while a negative trend in the Bitcoin price can possibly lead to the entire market collapsing. Thankfully for the cryptocurrency markets, Bitcoin’s price has been on a rather positive trend of late.
Bitcoin crossed the $8,000 mark over the past week – a position which it has firmly held since. After being stuck in the $6500-$7500 price point for almost a month, Bitcoin finally sees a ray of hope as the currency has formed a new base between the $8000-$8500 price points. Once it gets enough support at this price, the next surge will aim at the much awaited $10,000 mark!
Over the past 24 hours, Bitcoin’s price has been rather stable, growing by 0.20% over the day. The currency started off the day at $8081 and closed the day at $8111 – not much of a rise, but better than being on a negative trend. The currency’s market cap, over the day, went from $137.2 Billion to $137.6 Billion, growing by $400 Million over the day. The lowest point of the day came at $7925 while the highest point of the day came at $8131.
Bitcoin’s price, over the past week, went from $6741 to $8111 – a significant achievement for the currency. The highest point of the week came at $8353. Over the week, Bitcoin’s market cap went from $114.3 Billion to $137.6 Billion!
Stability is the need of the hour for Bitcoin and the currency is extremely stable at the moment, which should relieve investors. This is a good time for investment as more growth is expected over the coming weeks! The currency is now eyeing the $10,000 mark – an attainable figure over the month if the price surge continues!
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.