Bitcoin Price Crosses $4000 and Trading Volumes Increases as well
With the start of Spring this year, there is good news for all the crypto investors, crypto enthusiasts with the prices of all the crypto seen an increase this week after the cold winter dip in the prices. The prices of all other cryptos seen a little gain while Bitcoin price has crossed $4000 (Rs. 275852) mark and Ethereum price around $142 (Rs 9792) as per Coinmarketcap data.
￼Ethereum is still holding its position at second with $142.67(Rs.9792). ￼In the last 7 days, it has seen that the current price has been up by 2 per cent. According to the market cap, Bitcoin price opened at $3958(272955) and closed around $4035 (Rs.278265) at the end of the week.
Also, the trading volumes for the Bitcoin have continued its growth and have almost reached the trading volume of $11 billion. Increase in the trading volume has been the highest in the last 12 months shows that the investors have started investing and seems to be interested in the crypto market.
According to Fundstrat founder Tom Lee, as told to CNBC “If Bitcoin price holds above $4,000, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before Bitcoin starts to look technically like it’s back in a bull market,”
He also added, “I think it really undermined investor confidence and the dynamics around the market.” It will be interesting to watch how the markets would go on.
What are your thoughts on this price gain for Bitcoin? Let us know by commenting below.