The exchange rate of bitcoin over the last 24 hours has increased by 2.26% on weighted average, according to Coinmarketcap, surpassing the mark of $4000.
In the morning the price of the main crypto-currencies is steadily moving in an upward channel. At the moment the exchange rate is trying to consolidate above the psychologically important threshold of $4000. Capitalization is between $71 billion and the daily trading volume reached $10.2 billion.
The growth rates of most altcoins. Total market capitalization increased by $ 6 billion and $ 140 billion. Growth in the absence of a loud positive news will trigger a market recovery.
Yesterday, the daily trading volume of BTC has approached an annual high, exceeding $11 billion. This fact can testify about the interest from investors and belief in the further growth of quotes. In addition, many analysts say the transition to a bullish phase.
So, a financial analyst and co-founder of Fundstrat Global Advisors Tom Lee (Tom Lee) said that the bearish sentiment on the bitcoin-bullish market will change in the next six months:
“I think the key indicator, which is to follow is the 200-day moving average price. If bitcoin will remain at $4000, he crosses the 200-day (moving average price) in August, we have 5 to 6 months before technically it looks like bitcoin is back in a bull market.”