Bitcoin Maintains Its Price Above $7K
Bitcoin again reaches $7100 region
Last weekend, Bitcoin was trading at $6,500 as of Friday but, on Saturday it went on bullish and reached above $7,100.
The cryptocurrency market improves by $20 million as Bitcoin regains. Bitcoin had a sluggish start with the start of April month; on 3rd April Bitcoin was found to be trading at $7,439. It suffered a slump in between and now again it maintains its value is recorded above $7,167 at 9:02 AM UTC, Today.
It is like a short-term recovery for the cryptocurrency. The $7,700 to $7,800 range still remains an important one as Bitcoin is expected to do well in the April month despite the sluggish start this month. It is expected to reach the $8,000 region by the end of April month.
At this time, the cryptocurrency market lacks volume be it major cryptocurrency or the minor one. A huge number of people are leaving the market selling their cryptocurrencies. If the cryptocurrencies do well this month, we can expect new capital to come into the market to increase the liquidity of the cryptocurrencies which share the largest market.
There is also a process associated with the rising price in the crypto market. Firstly, the trading volume has to be increased. Then only the transaction volume of the largest sharing market, Bitcoin will increase. And when the user activity will increase, the Bitcoin will get back to flow again to the higher values. If we talk about the current scenario, there is an increase in trading volume, investors like George Soros, Rothschild and Rockefeller families are entering the cryptocurrency market. That could prove out to be a substantial hike in liquidity and this month the cryptocurrency may take a soar to reach its previous position in $8,000 region.
Rockefeller and George Soros are going to invest in Cryptocurrency as well as in Blockchain start-ups.
A few altcoins are also doing well for the past week in comparison to Bitcoin which has improved its value on Sunday. The list of altcoins, doing better includes NEO, Ox, Dragonchain and Ontology. They all are recorded with the improvement by 5 -40% as compared to Bitcoin.
Although the countries like, US, India and South Korea are getting strict laws towards cryptocurrency activities, the country like Japan is supporting the legalization of ICOs. South Korea is also allowing domestic ICOs, even after the strict financial norms. That will somehow increase the popularity ICOs and Ethereum again.