Bitcoin Bounce Beats Award $ 8000 - Newsflash - Statistic February 7

Bitcoin prices and the wider market are firmly rising cryptocurrency after a particularly stubborn week of slipping down as the price of the Bitcoin scale above $ 8,000 on Wednesday's trading.

Bitcoin's gains on Tuesday kept its momentum early in the session on Wednesday, with a 25% gain in value over the last 24 hours, at the time of the press. After falling to a low of $ 6,000 (Bitfinex) early Tuesday, the recovery effort that followed saw the world's first crypto-currency peak at $ 8,238 at 11:00 am (GMT).


For many, the recovery is the result of talks at the US Senate hearing on Tuesday raising the possibility of cryptocurrency settlements. Public discussions aired saw Securities and Exchange (SEC) Chairman Jay Clayton and Commodities Futures Chairman Trading Commission (CFTC) J. Christopher Giancarlo testifies to their intention to focus monitoring efforts on ICOs and the regulations of cryptocurrency trading to a federal level, as opposed to current state-level laws.

Pertinently, the community sees cryptocurrency testimony as a development that will not hurt cryptocurrency markets. Instead, where applicable, the remarks proposed at the hearing ultimately proved to be encouraging in a way that the regulatory review would not hinder the development of the technology nor blockchain cryptocurrencies.

CFTC President Christopher Giancarlo went further in educating the committee by highlighting the inseparable nature of Bitcoin and blockchain technology, stating:

      "It's important to remember that if there were no Bitcoin, there would be no blockchain. "

Beyond Bitcoin, much of the broader market is showing crypto-currency also a lot of respite with significant double-digit gains as the cumulative market cap approaches $ 400 billion after a low of $ 275 billion on Tuesday.