Bitcoin price today: BTC peaks at $7,000 but will it push higher – Latest bitcoin price …

Bitcoin, which has recently experienced a turbulent period, at one point even surged to a two-month-high of £5,928.46 ($7,788) today on the Bitfinex trading platform.

The immediate outlook for bitcoin is neutral but the pullback from highs above £5,174.09 ($6,800) has supported a bearish outlook.

A close above £5,396.20 ($7,090) could potentially boost the prospects of a bullish reversal above £5,632.14 ($7,402).

However, a move below £4,679.50 ($6,150) – today’s low – could reinforce a bear back into the driver’s seat, allowing a drop to June’s low, below £4,413.19 ($5,800).

Today’s nine percent jump in growth is thought to be due to due to investors fleeing the so-called stablecoin Tether (USDT).

Cryptocurrency traders describe stablecoins as any cryptocurrency pegged to a stable asset.

Crypto-trader Alex Kruger suggested bitcoin’s Tether-related spike was an unhealthy “pump” on the crypto markets.

He tweeted: “Would be quite an irony if a Tether collapse would send…