RATE Group | Bitcoin Just Hit $8,000 — Here’s What’s Pushing It Up
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Bitcoin Just Hit $8,000 — Here’s What’s Pushing It Up

24 Jul Bitcoin Just Hit $8,000 — Here’s What’s Pushing It Up

Posted at 06:01h in Bitcoin News by

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bitcoin price image

A visual representation of Bitcoin is displayed on December 22, 2017 in Paris, France. The price of bitcoin collapsed in January around the world, led by Asia. (Photo by Chesnot/Getty Images)

The bitcoin price has today climbed above the $8,000 mark for the first time since mid-May — leading many to predict a return to the bull run that last year powered bitcoin to almost $20,000.

The latest boost for bitcoin comes after a week that saw it add almost 20% to its price on the back of news that established financial giants are looking to get in on bitcoin and cryptocurrencies, and a raft of positive regulatory news around the world.

Meanwhile, the so-called bitcoin dominance rate — a measure of how much of the total cryptocurrency market is controlled by bitcoin — rose to 47% this week, the highest level since December last year.

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