Bitcoin has been trading above $10,000 for a month for the second time in the history of the cryptocurrency. The last time BTC traded above this mark was for 63 days, starting in November 2017.
“The question is, what has changed this time? Now cryptocurrency investors have become more sophisticated and demanding than when crypto assets showed astronomical growth in the period from the end of 2017 to the beginning of 2018,” said Charles Bovaird, Vice President of marketing at Quantum Economics. “As cryptocurrency users have become more sophisticated, this creates an environment in which digital assets and investment-seeking projects can benefit from more sustained interest.”
According to CoinMarketCap, bitcoin is currently trading at $11,349, showing a slight decline over the past day, which has continued since August 19, when the value of BTC last exceeded $12,000. However, in General, we can not say that bitcoin is suffering from a long-term decline – except for minor fluctuations, the cryptocurrency is steadily growing after reaching $9,000 in mid-July.
This week, senior analyst at Bloomberg Intelligence Mike McGlone (Mike McGlone) said that he expects the growth of gold and bitcoin to continue in the current “bullish” cycle.