The good news arrives again for bitcoin lovers who have been patient. Bitcoin, for the first time since about two months ago, approached $8,000. A couple of hours ago, the main cryptocurrency managed to surpass $7,950, a figure that it had not achieved since November 21, 2019. Now its average value is $7,880, 3.89% more than yesterday at the same time. Operations in the last 24 hours exceed $24.8 billion.
Among the reasons for the increase, many analysts allege the conflict between the United States and Iraq over the airstrike on Iranian targets that were at Baghdad airport.
However, it is not the only reason in the analysis. Other analysts allege the bitMex exchange settlements, which always relate to these hikes. In addition, many argue that the increase is related to the market’s own enthusiasm in the face of the increase experienced in the first week of January, when Bitcoin rose 8.71%.
Some altcoins went up, others went down
As for altcoins, there is not a single trend. While some major altcoins went up, others had slight falls. Ethereum was down 0.02% from yesterday, while XRP fell 0.35% and the Tether stablecoin 0.11%. The one that had the worst drop in the top ten was Bitcoin SV, with a drop of 4.35%.
As for the others, many went up but in much lower percentages than Bitcoin. Bitcoin Cash amounted to 0.40%, Litecoin 1.54%, EOS 0.52%, Stellar 2.60%, Cardano 1.78% and Monero 1.97%.
In view of the low percentages of increase, Bitcoin’s dominance of the crypto market is now 68.3%.
Initially, purchasing and storing Bitcoin can appear complicated, but as soon as you start to learn about it, it gets quite easy. Lots of people using bitcoin only as an investment because it will provide decent value to them later on. Individuals always attribute a greater Bitcoin value to rare things, meaning a more compact supply usually contributes to higher demand and thus a greater price.
Once a transaction was verified and recorded on the blockchain, it can’t be reversed. Bitcoin transactions are created with no middlemen. A Bitcoin transaction is really unique. You will be able to establish a Bitcoin account within seconds, unlike the huge banks. What makes it special is the fact that it isn’t controlled by means of a bank.
