The Bitcoin has definitely slowed down these days and today we can see it settled at $635. Even though this value per coin is anything but bad, recently we have raised our hopes to see the cryptocurrency going over more lucrative thresholds like $800 and $900.
These hopes are now warmed by predictions that the price per coin in less than 15 days will breach the long forgotten mark of $1,000. Obviously, the main reason for that is the expectation to have Bitcoin’s supply halved by 10th of July. For now, the cryptocurrency doesn’t seem to have the power to make such a strong run towards $1,000, but it wouldn’t be surprising to actually see it accomplishing that goal; it won’t be its first time, that’s for sure.
The other segments, however, are perfectly reflecting this peaceful period; the volume has dropped and the signal by the indicators at this time is pretty neutral. The Bitcoin-related news, on the other hand, seems inclined towards the cryptocurrency, promising bright future.
Circle Raises $60 Million in China Expansion; Investors See Bitcoin as Safe Heaven
The first in a line of relatively positive pieces of information regarding the world’s most popular digital currency comes from China. The payments application Circle that lets users’ payments be transferred into Bitcoin has managed to raise $60 million in China expansion. This shows that investors still strongly believe in the cryptocurrency and its potential.
This is further confirmed by The Star’s article that explains how investors see Bitcoin as safe heaven. According to the text, both investors and traders trust the Bitcoin to be the safest way of investing their money at times of uncertainty. The latest event to remind us of this was the majority of UK citizens voting “Leave” on the Brexit referendum.
Other things worth mentioning include a Singapore Bitcoin exchange startup that raised $16 million and a new partnership between Bitwage and Bitso that makes Bitcoin payroll in Mexico a real possibility. Finally, the reputable magazine Breitbart described the Bitcoin “good as gold” in the Brexit. So much good news, it’s almost too good to be true.
Currently Trading Right under $640
Depending on the filter, you’ll notice that the price has been slowly falling or going crazy. In the past seven days there’s a clear downwards movement that shows the value per coin at $760 last Monday and then falling at less than $640 per coin today.
In the past 24 hours, however, the price has been constantly moving up and down; for example, the day’s low is $612.93, while the day’s high is $641.91. However, lots of values in between were hit as well. The current trading price is $637.59; you can notice that since we started the text, the price has improved a bit. Nevertheless, in the past 24 hours the general price change is -2.01%.
The market cap is $10.02 billion, meaning it’s also losing on value as days pass. The volume has also calmed at $128,691,000. This means that price surges in near future are extremely unlikely to happen. These claims are supported by the indicators and the averages; the first ones send a neutral signal, while the latter one suggests the price will decline.