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Bitcoin price rises to $7,700


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Abstracts.

Bitcoin prices rose nearly 5 percent to $7,700 Sunday night after fluctuating between $7,400 and $7,500 on a relatively quiet Sunday.

Digital currencies in general surged at the start of last week, with bitcoin rallying above $7,000 on Tuesday (July 17), up more than 10 percent, amid reports that the world's largest asset manager is considering entering the digital currency market.

Bitcoin is trading at around $7,660 according to 9 a.m. Central European Summer Time on the 23rd, while other cryptocurrencies remain at relatively low levels, with Ethereum trading at around $466, up just 1 percent, while Ripple and Litecoin remain at 0. 46 and a stable level of $86.

Four factors have fueled the recent bitcoin rally

Overseas media columnist Peter Tchir analyzed four factors that have fueled the recent bitcoin rally. They include: cryptocurrency and blockchain being added to the CFA exam; more recent news that the banking industry is looking into crypto assets, such as BlackRock setting up a working group to study cryptocurrency and blockchain technology; the potential for bitcoin ETFs increasing again; and governments, central banks and supranational institutions all increasing the speed of "crypto".

Bitcoin has also fallen in price recently

During the World Cup, the price of mainstream cryptocurrencies fell all the way down. For example, Bitcoin had dipped below $6,000 at the end of last month. Some cryptocurrency prices have rallied so far this week, but it remains to be seen if the prices will hold. Some analysts said that at present, cottage coins divert funds; various digital currency market manipulation and insider trading scandals began to emerge, new funds into the market began to wait and see No.; regulatory signals are more stringent. All three of these reasons can affect the movement of crypto-digital currency prices.

Original article, reprinted with attribution to avoid legal liability

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