Good news: Bitcoin is above $7,000, ETH is approaching $ 300

AiBB
AiBB
Sep 4, 2018 · 2 min read

Two weeks аgо Bitcoin (BTC) bottomed out at $6,000 that was its lowest point of the year to date! But today we see that situation is changing dynamically. It broke above the $7,000 range. Bitcoin prices are improving slowly, but BTC is still depressed compared with levels above $8,000 that we had seen in July. The “defending the $7000” mark seems to be holding true for stabilizing BTC prices and with continued defense of the $7000 mark, BTC may well continue to rise.

As of August, most crypto-currencies, including Bitcoin and Ethereum, are on the rise. The bitcoin rate crossed the $ 7000 mark, and the daily trading volume of the largest cryptocurrency reached $ 4.5 billion. At the same time, the ETH is approaching $ 300.

In the last 24 hours the growth of the rate of BTC and ETH was 5%; although this is quite good, there are cryptocurrencies which going up faster. For example, IOTA and Dash have risen more than 20% over the course of the day.

In the conditions of a bear market, that we have seen in the crypto-currency area in recent months, almost everyone had a loss. Ethereum had more troubles than others. ETH trade fell to record low values ($ 1.4 bn), as well as the rate in relation to bitcoin: now 1 ETH costs 0.04 BTC (at the maximum this figure was 0.17).

It is not known exactly what the cause of current growth is. It may be due to some of the non-announced events or a slowing of the bear market forces caused by any other factors in the broader economy. It is may be just a short-term bounce before a new fall. In any case, one thing you can be sure of: today we have such a rare opportunity to enjoy the green color.

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