The cost of the Bitcoin (BTC) crypto currency rose to $ 8000 during Thursday trading, after which it recoiled slightly. This is interesting and important for two reasons. First, even a 10% increase in Bitcoin seriously increases the overall capitalization of the crypto-currency market, from 280 to 310 billion dollars, this is a lot. Secondly, this may mean the beginning of a new bull market, which everyone is waiting for a very long time.
The crypto-currency market is experiencing cycles of ups and downs, which are accompanied by joy and depression respectively. Yesterday, bitcoin holders got a charge of optimism when the price of BTC grew by $ 1000 literally in half an hour. This is the highest rise since the end of March and 11% growth per day.
Despite the green arrows on the charts, the end of March and the beginning of April were rather gloomy for the owners of "digital gold". News foreshadowed "the death of a cue ball," "a bursting bubble," "the cross of death," but everything turned out. The reason for the new growth is the abolition of the ban on the possession of Bitcoins under Sharia law, which opens the market for 1.6 billion people, as well as the entry of large institutional investors into the market. The intention to invest in crypto-currencies was recently revealed by George Soros, for example, followed by the Rockefeller family and the Rothschild family.
This news can support the further growth of Bitcoin. The majority of alternative crypto currencies also supported the growth of the flagship (the market share of the BTC is 42%).
The Supreme Mind recommends: