With the recent tidings, it feels like the pioneer of cryptocurrencies is finally establishing itself
back. Bitcoin is trading at $46,090 as of now. Unlike the previous month in July when the figures had
fallen by 53% to below $30,000, this seems like a considerable rise.
Analyst William Clemente said that Bitcoin is repairing the largest divergence to fundamentals;
saying bitcoin is “playing out in real-time”.
Experts expect its value to rise to $57,000 and if Bitcoin can close strongly over that, it can hit
While regulators around the world are exercising control over the mining of bitcoins, its value
continues to rise. The bitcoin community even made more than 35,000 calls to lawmakers in response to
SEC’s proposed regulations.
Here is a sentiment chart that gives a fair idea of what investors and financial experts feel about the
cryptocurrency. Different emotions including both the positive and negative ones can be seen to have
This word cloud demonstrates the top discussions that entail regarding bitcoin
The graph given below tracks the negative as well as positive tweets and their changes throughout the
Bitcoin’s close competitor Ethereum has moved up as well and is trading at $3,208 and XRP is at about
Some experts say that given the current price tag of Bitcoin, we might get to witness buyer’s exhaustion
as bull pressure begins to loosen. Other’s believe that the temporary stay in price might be
short-lived. Chapple suggests calendar futures across both bitcoin and ether were “fairly compressed”
pointing toward open interest growing for short positions.