According to data, Bitcoin (BTC) has recently increased more than $ 7,000 points. After an extended bear market, after an extended bear market, which has seen the price of cryptocurrency all due to its rapid decline from the highest level of all time in December of 2017, the digital currency market appears to show some signs of recovery completely.
Although considering these positive value movements, it may be too early to think of the beginning of a bull run. It is worth noting that in the middle of August, the cost of Bitcoin fell below $ 6,000. However, the world’s most influential cryptocurrency currently is trading at $ 7,012.11 at the time of writing.
Altcoins Also Surging
Since the cost of bitcoin has started to rise, some altcoins are making even more profit. Specifically, Nano, which is called “new global currency” It saw 84% increase in its price in the last week. This increase in the price of coin may have been due to the recent NANO foundation that former vice president of foreign currency in Citibank, Andy Woolmer joined Nano’s development team as his first official advisor.
In the meantime, ICON (ICX), often known as South Korea’s Ethereum, Yesterday also recorded huge profit. The increase in the cost of cryptocurrency was largely due to its technical partner, ICONLOOP, South Korean government is being chosen to participate in the program. Reaction to news, ICX’s price shot up by over 20% within 24 hours following the announcement to around $0.96 (from previous lows below $.50).
Bitcoin (BTC) Stands Strong After ETF Rejections
In other Bitcoin news, an American stock broker Jordan Ross Belfort accused the pump-and-dump scandals of doing orchestrating, which resulted in a loss of $ 200 million for many investors.
First and foremost, despite the recent rejection of Nine Bitcoin ETF proposals by the US Securities and Exchange Commission (SEC), bitcoin did not experience the kind of sell-off many analysts might have predicted.
Apart from this, as reported on yesterday (August 27), technical analysis indicators showed that the cost of bitcoin has reached the level of $ 7,000, so it was expected to break.