The most popular cryptocurrency is gaining momentum: Bitcoin's growth has doubled based on the indicators of the last four months. Over the past few days, Bitcoin has grown to 15%, while its value has exceeded the $ 7,000 mark.
The dynamic growth of the currency cannot be accurately explained by any of their specialized experts, although a number of assumptions exist for this. For example, some market participants see it as a coincidence that Bitcoin has gone up in response to Consensus, an event dedicated to blockchain and virtual currencies, taking place in New York. Bitcoin price has always risen in price after each such conference.
In addition, the bitcoin rate is also associated with the trade confrontation between the United States and China, which could force investors to look for alternative markets for investments. Also among the reasons is the agreement between large retailers (Crate and Barrel, Nordstrom, Baskin Robbins and Whole Foods from Amazon), which entered into an agreement to pay in electronic currencies. Some experts believe that the theft of virtual currencies on one of the main world platforms Binance could become a prerequisite for the rise in price of Bitcoin. The amount of the loss then amounted to $ 40 million.
The recent event, when the price of bitcoin increased to 15% from the previous indicator in just a day, was not the most dynamic jump in the currency. Despite the fact that Bitcoin was stable at the same level with a downward trend in the spring of this year, in early April its growth was more than 20%, reaching the level of $ 5,000. The reason for this was the large-scale interest in the currency among Asian investors.
Bitcoin, as expected, has had an impact on other global crypto money. About 25 cryptocurrencies, which make up the bulk of the market, have shown steady growth. These include Etherium, Monero, Litecoin, etc. At the same time, Bitcoin provides more than 58% of the crypto market capitalization, which reached $ 212 billion.
The beginning of 2019 was not going very well for Bitcoin. The currency hovered at around $ 3,200, but within five months from that moment, Bitcoin's growth doubled. The previous 2018 can be called a depressive year for the entire cryptocurrency market. The cost of bitcoin at that time, as well as of other virtual coins, was constantly decreasing (the rate dropped especially strongly in the fall of 2018) against the background of a general loss of interest of all market players, including miners and investors. However, the success of this year has not yet allowed Bitcoin to reach and surpass its peak at the end of 2017, when its value reached $ 20,000. At that time, this had a significant impact on the market for video cards for mining crypto coins around the world, including USA.
The Topic of Article: Bitcoin shows steady growth, exceeding the $ 7,000 mark.