Bitcoin Breaks $760 Mark; Attracks Bank of Canada’s Attention

It’s been crazy for Bitcoin traders and fans these last few weeks; the cryptocurrency started growing with a strong pace, breached several milestones and it seems determined to keep moving upwards in the future as well. All this was additionally spiced up by the news that the mining rewards are going to be halved in July, thus boosting the price even more.

Naturally, such a strong surge in value attracted the attention of reputable global media, financial institutions and, of course, traders. There’s a lot to be said both about Bitcoin-related information and price movement. Therefore, we will start with the most important things Bitcoin enthusiasts need to know in order to make wise trading decisions during these hot summer days.

Bitcoin is Everywhere; Its Main Rival Gets hacked

So, let’s first start with the simple fact that Bitcoin is pretty much everywhere. The majority of reputable global media has dedicated at least one article on the cryptocurrency and its recent price jump. For example, TechCrunch has focused on the fact that in the past week solely the Bitcoin has increased for 30% and 200% during the year. The text explains how the world’s most famous digital currency was either tanking or skyrocketing, concluding that this period is all about the latter occurrence.

The Financial Post, on the other hand, offers an analysis that should answer the question whether it’s smarter to invest in gold or Bitcoin. Even though the conclusion of the text is that gold seems to be the safer option, the article points out many benefits of using the cryptocurrency nonetheless.

There are two more pieces of information we believe are important for our readers to know. First, Bank of Canada has started explorin Bitcoin and the technology behind it. That’s always a good sign, which shows the potential the digital currency has. Second, it was reported that “in ongoing attack” over $59 million Ethereum coins were stolen. The info instantly hurt the growing pace of the currency that dropped for about 13% in the past 24 hours.

$760 Mark Hit; Current Value $743.11

The price of the Bitcoin is a story for itself; only a month ago it was mostly trading around the $400 mark and today we can see the value per coin settled at $743.11. The best thing, however, is the fact that early morning the Bitcoin not only managed to go over $750, but also it hit a 24-hour high of $762.02. Soon afterwards, it seems, the currency lost its power and reached the day’s low of $709.85. Ever since it’s been slowly improving. The overall change in value in the past 24 hours has been 0.73%.

The market cap of the Bitcoin, understandably, improved even more than before breaching the $11 billion threshold. Its current value is $11,666,114,657. Similarly, the volume has been soaring again reaching value of $349,002,000.

All these numbers show a clear sign that the Bitcoin will probably keep growing over the weekend. This theory is supported by the majority of the indicators and all of the moving averages. Only the ROC is pro-sell, whereas the Williams %R warns that the currency was being overbought.

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