RATE Group | Are The Crazy Rides Of Bitcoin Controlled By The Invisible Hand Of The Market?
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Are The Crazy Rides Of Bitcoin Controlled By The Invisible Hand Of The Market?

23 Jul Are The Crazy Rides Of Bitcoin Controlled By The Invisible Hand Of The Market?

Posted at 18:49h in Bitcoin News by

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Here we are again. Those who doubted Bitcoin (BTC) and forecasted the age of cryptocurrency will soon be over need to think again. Bitcoin showed renewed strength by gaining 23% in the last week only. Is the shiny knight back?

The recent days have been very good for Bitcoin and its investors. As a result, the price of the BTC unit has reached and extended past $7,000 US. At the end of June it was ‘only’ $5,818 US.  It is too early to say if the rollercoaster is back again. Still, it has dropped a long way from nearly $20,000 US in mid-December last year. Additionally, the level of $7,300 US is a strong resistance level in terms of stock exchange technical analysis.Therefore, it is probable that the rate will remain on the current level for some time. Don’t treat this as a piece of investment advice, as BTC has developed against projections.

There is Good News

So what actually influenced BTC in recent days? Monday July 16 brought few pieces of news that may shed…

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