Cryptocurrency enthusiasts will be pleased to see the Bitcoin price go up once again. Yesterday was a pretty good day already, with the Bitcoin price surpassing $4,000 for the first time in a while. Today, that same BTC is valued at $4,250 and it appears this trend will continue for some time to come. Although we may not see a new all-time high anytime soon, things are heading in the right direction as we speak. Bitcoin Price Breaches $4,250 Resistance Seeing the Bitcoin price go up multiple days in a row has occurred multiple times in the past. However, we
Cryptocurrency enthusiasts will be pleased to see the Bitcoin price go up once again. Yesterday was a pretty good day already, with the Bitcoin price surpassing $4,000 for the first time in a while. Today, that same BTC is valued at $4,250 and it appears this trend will continue for some time to come. Although we may not see a new all-time high anytime soon, things are heading in the right direction as we speak.
Bitcoin Price Breaches $4,250 Resistance
Seeing the Bitcoin price go up multiple days in a row has occurred multiple times in the past. However, we also see the price go down several days in a row these days. This current trend seems to confirm the recovery process is in full effect. If that is the case, it will only be a matter of time until the Bitcoin price reaches $5,000 again. For now, that is mainly an optimistic goal, though, as there is still a lot of work to be done in this regard.
That being said, we now have a Bitcoin price of $4,250 which is still pretty significant. Just a few days ago, that price was below $3,000 due to the new regulatory measures taking effect in China. This current price trend goes to show the Bitcoin world will keep growing regardless of what Chinese regulators plan to do in the future. Even without those exchanges trading cryptocurrency against the Chinese Yuan, the Bitcoin price will not be kept down for an extended period of time.
One thing having a positive impact on the Bitcoin price right now is the increasing trading volume. As mentioned in a few previous Bitcoin price posts, the trading volume has been going down a bit as of late. That is pretty surprising, as we have grown accustomed to a trading volume of around $2bn per day. These past few days, said volume dipped to $1.2bn or lower, which took many people by surprise. Things are finally heading back in the right direction, though, by the look of things.
More specifically, the past 24 hours have generated around $1.95bn worth of trading volume. Do keep in mind this number still excludes peer-to-peer and decentralized trading volume, as Coinmarketcap currently doesn’t track all platforms in this regard. That is not much of a problem, but it is still important to keep in mind at all costs. With the volume heading back to nearly $2bn, the Bitcoin price is responding in kind, which is pretty impressive.
For the umpteenth day in a row, Bitfinex is generating most of the trading volume these days. It’s $240m volume is nearly three times as high compared to bitFlyer and Bithumb. Once again, we see three fiat currency markets dominating the rankings, which is pretty impressive. These are three different fiat currencies as well, including the US Dollar, Japanese Yen, and Korean Won. A more than welcome change compared to a few weeks ago, that much is certain.
All things considered, things are looking pretty solid for the Bitcoin price right now. If this momentum were to continue, it is only a matter of time until we see a new all-time high. When that will happen exactly, remains to be seen. For now, most holders and traders will be pretty happy with the way things are going, although there is always room for future improvements. It is evident the Bitcoin price is still on a lot of people’s minds and it will be interesting to see where things will head next.
