- Bitcoin seems to be on recovery as it moves past $34K this week.
- Concerns were high especially since BTC’s recent fall to below $30K levels.
- BTC seems to be holding its ground in the face of global crackdowns on crypto.
Is the crypto market in recovery mode right now? Seems like it’s already trying to close up wounds inflicted over the past few weeks in major coins prices. That’s right, have you noticed Bitcoin’s price climb up over the past week? This week has seen a rise of almost 10%.
Yes, we know, Bitcoin is volatile. Yes, we also know that the last time Bitcoin crashed suddenly, you were hurt. Yes, we realize the dip hit you hard. Yes, yes, yes… But don’t lose hope just yet.
Recent signs in the crypto market are hinting at a bullish future.
Just last week, major cryptocurrencies suffered a crash for the second time in July. The event took BTC’s value all the way down to under the $30K threshold. Fears of new lows in the coin’s value dominated the space, and novice investors were quick to exit. In fact, traders were quick to call out the coin for falling by more than half of its ATH this year, just a couple of months back.
Still, once again, Bitcoin is gaining ground and excitement prevails.
This means that although the global mining crackdowns and increased scrutiny on crypto trading operations did cause Bitcoin to stagger, the leading crypto retains its place as the top coin. For now, traders will watch with bated breath as Bitcoin nears $35K.