Bitcoin has been climbing for some time, crossing back over the $8,000 United States dollar line on July 24th. Unfortunately (depending on who you are of course), a small down spell happened for the cryptocurrency king by dipping back below the $8K USD threshold and hit a daily bottom low of $7,863 before quickly bouncing back to $8,188 USD according to Coinbase charts.
Bitcoin Price Today
BTC started the day out at more than $8,000 but began to decline after 17:30 UTC. It took about 20 minutes or so for the Bitcoin value to fall below the $8,000 Mark and then continue on at a steady decline until it fell at a low of $7,861 on the massive cryptocurrency Exchange Bitfinex. It's unfortunate for people who have been looking at the climb in hopes of the crypto crew heading back over the $20,000 mark like it did back in 2017. It's still not a big deal ultimately though, because there's still plenty of time for the price of Bitcoin to double or triple before the end of the year and 2019 starts.
The market support theory is only an idea. Honestly, crypto currency analyst really has no idea as to why after reaching a value of over $8,500 per token, for the first time in a few months, the price would suddenly drop again. It could have something to do with regulations the United States is putting into place or with the Winklevoss Twins attempt to purchase a Bitcoin ETF. In any case, something is causing people to sell off the cryptocurrency giant. Even though a drop happened recently to BTC, the coin was able to recover in a short period time the next day.
The fact that it hit $7,861 today is it really a great sign for the cryptocurrency people should pay very close attention to what's happening with Bitcoin. Especially those who are considering investing more money into it determine what to do for the rest of the year in regarding their cryptocurrency investments .
How do you think Bitcoin welfare for the rest of the year? Leave your thoughts in the comments section below.
(And remember, you can always see real-time report on cryptocurrency websites across the internet.)