Cryptomarket Recovers, Bitcoin Price Jumps Over $8,000July 25, 2018
Bitcoin started rising and showing signs of life again since its Cryptocurrency crossed the $8,000 mark for the first time in almost two months. Don’t expect it stays there; it is already going for over $8,300. In June, Bitcoin went as low as $5,848 on the 28th, and ended the month with a trademark below $6,000.
Those who decided to buy Bitcoin during their low prices in June would already be making up to 42% of their inversion on Tuesday morning when Bitcoin hit a price of $8,342.62.
Bitcoin hasn’t traded above that number since May 23, and according to reports from CoinDesk’s, a website that currently tracks the number of exchanges, Bitcoin rose more than 7 percent in the last 24 hours.
Bitcoin Isn’t Showing Signs Of Stopping
Bitcoin went from less than $6,000 per unit by the end of June to reach over $7,700, marking a difference of over $2,000 since the end of June. Although, for some users, it seems like it can’t be possible, no one knows if Bitcoin will hit the same road of 2017. However, right now, its value is still in a long way from reaching the $20,000 mark.
The last time Bitcoin went above the $8,000 mark was in May. Analysts predicted a forecast that Bitcoin would rise above $10,000 and keep climbing, but it didn’t happen.
Many users aren’t sure of Bitcoin’s next price, and the same happens with many other Cryptocurrencies. Bitcoin tends to move in unpredictable ways, so it makes it hard sometimes to tell where its price would go from here.
2018, A Wild Year For Bitcoin
Investing in Bitcoin through the year of 2018 has been like riding a wild roller coaster.
Seeing it rise above the 50% in one day but plunging 10% on another has been Bitcoin’s regular basis. So, expect to see more up and downs before expecting to see Bitcoin hitting another mark like its recent $8,300 spike.
Mark Cuban, a billionaire tech entrepreneur and Dallas Mavericks owner stated that users who have enough “money to gamble with” should “take a shot in Bitcoin investing” since Bitcoin right now seems to be “very much a gamble” where no one should put money that they can’t afford to lose.
Bitcoin Positive Price Direction
Since April, this is the first time that Bitcoin makes its way to achieve a consistent and ‘don’t stop’ price gains, Bitcoin’s value went up to over $1,000; it only took few days.
Many investors and traders try to stay calm about the situation and not expect too much from it, but the market shift made analyst keep attributing positive news like they often do in the Cryptocurrency space to create a favorable price movement.
It counted with the help of price spikes like the rumors of BlackRock. The investment giant is interested in Cryptocurrency, and making its way from a traditional sector in finances to face the possibility of moving into them.