RATE Group | Bitcoin Is Up 30% From Its Recent Low. What Lies Next?
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Bitcoin Is Up 30% From Its Recent Low. What Lies Next?

19 Jul Bitcoin Is Up 30% From Its Recent Low. What Lies Next?

Posted at 13:20h in Bitcoin News by

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Bitcoin has rallied in recent weeks. Shutterstock

Bitcoin has enjoyed a resurgence lately, climbing more than 30% after hitting a local low below $5,800.

Yesterday, the world’s largest digital currency by market value reached $7,574.90, according to the CoinDesk Bitcoin Price Index (BPI). 

At this price, it had climbed roughly 30.9% from the June 24 low of $5,785.43, additional BPI figures show. 

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

However, experts provided mixed views on whether Bitcoin has finally broken its bearish trend.

“Bitcoin has indeed bottomed out,” said Marouane Garcon, managing director of crypto-to-crypto derivatives platform Amulet.

“The key indicator is the amount of volume that has entered the market over the last two days. We haven’t seen volume like this since May.”

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