Bitcoin Surpasses $8,000 And Retail Investors Are Getting Re-Excited About It
Bitcoin has finally recovered from under $7,000 to over $8,000 a few hours ago. This was driven by new expectations about the future of the space and how Bitcoin could keep growing.
A few weeks ago, Bitcoin surpassed $8,000 for the first time in over 8 months, which created a very positive sentiment among the crypto community.
Bitcoin Recovers After Small Price Correction
Bitcoin has recently recovered from its price correction experienced a few days ago. The digital currency moved above $8,000 and has gathered the attention of several investors once again.
Indeed, many individuals and experts believed that Bitcoin could experience a correction that would drive the price of the most popular asset to $6,400, however, this didn’t happen and it started to grow once again.
According to Dovey Wan, a recognized crypto investor, the correction started because an individual placed a sell of 5,000 BTC on Bitstamp. Due to the low market depth that the exchange has and a possible glitch, the price of Bitcoin dropped and other sellers have also added selling pressure to it.
This shows that there is a very positive sentiment in the market that is able to absorb the drop that Bitcoin experienced. Investors are not bullish about the future of the digital currency market and expect Bitcoin to keep growing in the future.
According to Three Arrows Capital CEO Su Zhu, the fall of Bitcoin that led investors cautious about the short-term trend of the asset is unlikely to be triggering a full-blown retracement.
At the time of writing this article, Bitcoin is being traded around $7,925 and it has a market capitalization of $140 billion. In the last 24 hours, Bitcoin expanded 7.55%.
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Bitcoin’s price is $55,701.16 BTC/USD exchange rate today. The real-time BTC market cap of $1.04 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $27.78 Billion and live coin value change of BTC -3.00 in the last 24 hours.
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