Bitcoin overcame the level of 8000 dollars. Currently, the coin is traded around 8000 US dollars after takeoff from the level of 7763 US dollars. Earlier last week, the number one cryptocurrency also surpassed the level of 7000 US dollars.
The first significant price increase occurred on July 17, when the coin broke out of a period of low volatility. Bitcoin traded at $6700 and suddenly broke the threshold of $7000 and began to bargain around $7380.
Then, late in the evening on July 18, bitcoin managed to overcome the mark of 7500 dollars. After that, however, the price fell below the level of $7500.
July 23, the price fell below $7300, but then continued to rise. Over the next few days, the price rose and reached levels of 7600 and 7777 dollars.
Today, finally, the price of bitcoin was able to overcome the level of 8000 dollars, the price rose sharply from the level of 7770 dollars. Soon after overcoming the 8000 barriers, the price dropped to 7945 dollars, but later recovered around 8000 dollars, and the peak price was fixed at 8024 dollars.
Many analysts predicted a rise in bitcoin prices this week, as they believe that the “bottom” has already been passed and the bearish cycle is over. For example, Tom Lee of Fundstrat believes that in the near future the price of bitcoin will overcome the threshold of 20000 US dollars.