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.

Based on the results of the past month, the price of the leadingcryptocurrencies rose 24%, which was a real relief for many traders after a 3% decline in June. According to Messari, closing at $11 351 is the highest level since November 2017, since all other periods closed below $11 thousand.

Positive market dynamics have a positive impact 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, BTS is trading at the rate$11 650, having risen by 4.8% over the past 24 hours. Traders consider the weakening dollar and the ongoing economic downturn amid the pandemic to be the main reasons for the rapid growth. In the short term, a further increase in the rate is expected up to $12.5 thousand. However, there is a risk of market cooling and a rollback due to investors switching their attention to altcoins.

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