The cryptocurrency industry has gone through a few interesting days once again. After the Bitcoin price seemingly got stuck in sideways and borderline bearish territory, things are finally picking up once again. Right now, the Bitcoin price is inching closer to the $4,400 value once again, which seemingly confirms we are in for a wild upward ride in the coming weeks. Bitcoin Price Surpasses $4,400 Once Again It is good to see the Bitcoin price finally surpass the $4,400 value once again. After all, we have seen a solid base for recovery a few days ago, but things suddenly stalled
The cryptocurrency industry has gone through a few interesting days once again. After the Bitcoin price seemingly got stuck in sideways and borderline bearish territory, things are finally picking up once again. Right now, the Bitcoin price is inching closer to the $4,400 value once again, which seemingly confirms we are in for a wild upward ride in the coming weeks.
Bitcoin Price Surpasses $4,400 Once Again
It is good to see the Bitcoin price finally surpass the $4,400 value once again. After all, we have seen a solid base for recovery a few days ago, but things suddenly stalled around the $4,300 levels for some unknown reason. Until today, no one knows for sure why that has happened exactly, considering there was no real reason for this sudden lack of momentum whatsoever. Then again, cryptocurrency markets often evolve by doing their own thing, to say the least.
More specifically, with the Bitcoin price suddenly rising back to $4,400, it seems the uptrend has been resumed once again. Whether or not that will be the case, remains anybody’s guess right now, though. Good things are happening to the Bitcoin price as we speak, but the momentum can come and go on a rather regular basis depending on how speculators look at things. With the weekend almost upon us as we speak, things will not necessarily improve for the better in the coming days.
It is evident this current Bitcoin price “surge” will attract a lot of attention, to say the least. There has always been a positive focus on Bitcoin when the price goes up, but it does appear a lot of people have been waiting for the return to $4.400. Although this does not necessarily mean we will reach a new all-time high in the coming weeks, things are looking a lot more promising compared to just two or three days ago. Then again, the Bitcoin market will remain volatile for quite some time to come.
One thing to take into account is how the Bitcoin trading volume is not looking all that great by any means. More specifically, the current trading volume is hovering around $1.18bn, which is still on the rather low side. However, if most of that volume is related to people buying Bitcoin rather than selling, it is certainly possible we will see another leg up in the coming hours. There will always be some profit taking along the way, though, and one small red candle on the charts doesn’t mean things will suddenly head south either.
Looking over the exchanges bringing in the most trading volume, there is one notable change. Bithumb is no longer in the top three by volume, which is somewhat of a surprise. Instead, HitBTC is now generating enough trading volume to be ranked in the top three. For some unknown reason, this smaller exchange has been making a lot of headway in different cryptocurrency markets as of late. An unusual turn of events, but it goes to show things are never set in stone in the cryptocurrency sector.
For the time being, it remains to be seen how the Bitcoin price will evolve in the coming hours. Reaching $4,400 is a major milestone, even though it is still $600 removed from the current all-time high for Bitcoin. Whether or not things will pick up again over the weekend, remains to be determined. For now, things are looking pretty solid, but there is still a lot of work to be done before anything can even be confirmed.