August 4, 2020

Bitcoin Rises 24% In July, Setting Maximum Peak Closing Since 2017

Bitcoin Rises 24% In July, Setting Maximum Peak Closing Since 2017

Bitcoin closed July at $ 11.4K, the highest in the last 2.5 years.

According to the results of the last month, the price of the leadingcryptocurrencies are up 24%, which was a real relief for many traders after a 3% decline in June. According to Messari, the close at $ 11,351 is the highest since November 2017, as all other closings were below $ 11,000.

Bitcoin Rises 24% In July, Setting Maximum Peak Closing Since 2017

Positive market dynamics have a positive effect on investor sentiment and stimulate further growth. Coin offerings on exchanges have hit their lowest level in the last 12 months, analysts say, confirming the interest of participants in the long-term hold of the cryptocurrency.

At the time of publication, the BTC is trading at $ 11650, having risen by 4.8% over the past day. Traders believe that the main reasons for the rapid growth are the weakening of the dollar and the ongoing economic recession amid the pandemic. In the short term, a further rise in the rate is expected up to $ 12.5 thousand. However, there is a risk of a market cooling and a rollback due to the switching of investors' attention to altcoins.

</p>