On July 18, the bitcoin price jumped from $6,700 to over $ 7,517, breaking the mark of $ 7,500. The coin market cap has reached a total value of $ 128.9 billion. The rate was stabilized a few hours later. Right now — at the time of writing this article — the Bitcoin price is $ 7,384 and the coin market cap is at the level of $ 126.2 billion. In recent hours, the bitcoin price has reduced by 1.13%.
It is noteworthy that besides Bitcoin, other major cryptocurrencies have sharply increased the price. In particular, Ethereum went up from $ 470 to $ 510, Bitcoin Cash — from $ 800 to $ 860, and Litecoin — from $ 80 to $ 90. Though, some currecies have already returned to the two day’s ago price.
Of course, it’s too early to talk about the market recovery. There are several reasons for the current slight revival in the market: launch the stock investment Bitcoin fund (ETF) by Chicago Option Exchange (CBOE), Cohen Private Ventures’ investment in the Autonomous Partners hedge fund targeting on crypto and blockchain companies, as well as interest in the crypto market from BlackRock Inc (BLK.N), the world’s biggest asset manager.
According to the statement of former vice-president Goldman Sachs, bitcoin may return to the value of $ 15,000 by the end of the year. Billionaire Marc Lasry predicts Bitcoin price increasing up to $40,000.
Bitcoin is the very first decentralized virtual currency that uses cryptography for security. Bitcoin is not linked to any fiat currencies or real assets — BTC value is regulated only by demand and supply factors. Bitcoin is a global payment system which allows to conduct Bitcoin transactions. Its key distinction from classic payment systems is that Bitcoin system has neither processing center nor Manager— all transactions are conducted solely online amid network users on an equal basis. The cryptocurrency blockchain was launched in 2009 (its development started in 2007), by a computer programmer or a group of programmers known by the alias Satoshi Nakamoto. The Bitcoin Network’s source code was published in 2009 that marked Bitcoin start time.
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