Bitcoin briefly claims $40K twice in two days

Bitcoin briefly claims $40K twice in two days

The largest cryptocurrency, Bitcoin’s volatility, has hit the headlines again as BTC briefly reclaimed the $40,000 mark and quickly shot back within $39,000 levels. Between July 15 and July 28, this is the second time that BTC tried breaking $40,000 resistance within a span of two days. 


According to Cointelegraph trends, BTC saw a bull run for trading pair BTC/USD starting July 21, leading to a 34.13% spike within seven days. Crypto enthusiasts and crypto miners indicated that the rising Bitcoin prices are due to the rising involvement of the biggest names like  Elon Musk and Michael Saylor. Additionally, participants in the crypto market suggest the increase in BTC prices has also been pushed further by the rumour that Amazon was onboarding cryptocurrencies in its payment stream.


According to crypto analysts, Bitcoin will continue sticking to the $30-40,000 mark, while crypto enthusiasts feel the Bitcoin market will record a positive change of reclaiming its glorious spot at $60k.


In the latest survey conducted by CNBC on equity strategists and portfolio managers, 44% of participants responded that Bitcoin prices would suffer from a fall below $30,000, whereas 56% of respondents hinted at a bullish outlook and the remaining 6% hoped seeing the cryptocurrency giant at an all-time high of $65,000 mark.

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