Cryptocurrency

Bitcoin price surge fuels crypto challenge

The recent price surge for Bitcoin is due to to increased activity from the Asian market, according to experts and analysts. eToro’s Mati Greenspan and ADVFN’s Clem Chambers have both attributed the recent spike in Bitcoin’s trading volume to a concurrent increase in volume from markets in Japan and Korea when Bitcoin’s price rose above $8,000.

Bitcoin staged a comeback in July on the wings of an unexpected buy-the-dip surge, optimistic market sentiment and anticipation of the first bitcoin exchange-traded fund by year-end. Cryptocurrency markets suffered steep losses in the first half of the year. Bitcoin prices dropped by more than 53% and the overall market cap of cryptocurrencies declined by as much as 59% in the same period.

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About the author

Richard Newman

Richard Newman

Richard is the Editor-in-chief of Bitcoin Journal. He has over 10 years of experience with the news industry mainly handling the editorial cycle.

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