Analytics / Forex and Crypto News
After a sharp decline last week, Bitcoin showed the largest daily gain since last October. Today, the price of bitcoin reached $7139 during the day. In two days, Bitcoin was able to rise in price by 35%. This suggests that Bitcoin and the entire cryptocurrency market are still alive. At the time of publication, the price of Bitcoin fell to the $6245 area.
Also, Bitcoin can become an attractive asset for investors who want to invest their capital in a growing asset amid a general decline.
Analysts explain the current rise in the price of Bitcoin spot contracts. This means that retail investors are the engine of this growth. That is, retail investors consider the current price of Bitcoin attractive to buy, and believe that the price will continue to rise soon.
Analyst Satoshi Flipper believes that the level of $6800 is the only resistance that prevents Bitcoin from entering a new bullish trend. Since today Bitcoin could not hold above the $7000 mark, it could enter the consolidation stage or even another decline before making a new attempt to break up the $7000 level.
Despite the price rollback by Friday evening, it is worth noting that Bitcoin is showing some signs of fundamental bullish growth.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov