RATE Group | Why is the Bitcoin price rising? Is a cryptocurrency comeback coming?
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Why is the Bitcoin price rising? Is a cryptocurrency comeback coming?

24 Jul Why is the Bitcoin price rising? Is a cryptocurrency comeback coming?

Posted at 21:19h in Cryptocurrency News by

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The price of Bitcoin has soared above $8,000 to its highest level in two months.

This year has been dreadful for cryptocurrency traders, who watched as Bitcoin plummeted from almost $20,000 in December 2017 to reach a low of about $5,800.

But Bitcoin rose above $8,100 on Tuesday to its highest level in two months, prompted by recent reports about impending approval in the United States for a ‘cryptocurrency exchange-traded fund’ which will make it much easier for people to invest in virtual markets.


Why is the price of Bitcoin surging above $8,000 and is there a cryptocurrency comeback?
Experts believe a recovery could be on the way after a dreadful year for the world’s top cryptocurrency

Matthew Newton, analyst at eToro, a global investment platform, said ‘bulls’ are back in the market.

A bull is someone who buys stocks in the hope of selling them for a profit at a later date.

‘The bulls seem to be maintaining the upper hand, after a significant shift in the price pattern last week,’ Newton said.

Climate change is happening right before our eyes…

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