The past seven days of the cryptocurrency market have been pretty calm and stable. This stability in the cryptocurrency market is something that wasn’t observed from quite some time. The price of Bitcoin (BTC) over the week as per CoinMarketCap shows that Bitcoin (BTC) is lying comfortably between the range of 6140.48 USD and 6752.97 USD. On July 10 the price of Bitcoin was at USD 6543.71. Later on, it rose to 6752.97 USD on July 17 (at the time of writing). Not much has changed for BTC over the week.
The month of June has been pretty volatile for BTC. On June 1, 2018, the price of Bitcoin was at 7500.70 USD and it went as low as 5866.39 USD on 29 June 2018—the lowest value since November of last year. So far, Bitcoin hasn’t been able to reach that level again. However, Mati Greenspan, Senior Market Analyst at eToro had a pretty optimistic view on this. Looking at the current situation of the crypto market, Greenspan commented:
“In fact, the price of bitcoin hasn’t moved much at all since early June”
Furthermore, he added:
“As we’ve stated before, slow-moving prices are a good thing for cryptocurrencies. The more you can count on a stable exchange rate, the more likely people are to use the asset as a store of value.”
Greenspan believes that the general disagreement on Bitcoin has been reducing in the recent days. It seems Mati Greenspan isn’t the only one who is optimistic about Bitcoin. Recently, Julian Hosp, the Co-Founder of TenX, a popular cryptocurrency payment platform, said that Bitcoin price may reach $60,000 by this year. At the RISE Technology Summit in Hong Kong Hosp said:
If we see over $10,000 by the end of August, we can see the $20,000, then the press, the media is going to come in, and we can still see the $60,000 this year.
Follow us on Telegram!