These days, green is covering the market for money. After a few days of continuous rise, bitcoin rebounded above $ 10,000. However, bitcoin's market capitalization is still less than $ 200 billion compared to its peak in December 2017.
According to Coindesk, this morning (July 29) the world's largest single currency has risen to more than $ 11,400, but still 58% below its peak of $ 19,783.21. Compared to this peak, bitcoin's market capitalization is currently nearly $ 200 billion lower.
The recent price increase of bitcoin is a result of the excitement in the market after a series of positive news. Last week the BlackRock news agency was setting up a research group on digital and blockchain technology. Although the CEO of the fund later said that BlackRock does not mean investing in money, this is still a signal that the money attracted the attention of institutional investors.
In another move, Mastercard announced that it had acquired a patent that allowed bitcoin transactions on credit cards. There are no products available on the market but this technology can promote the blockchain technology.
Bitcoin prices have risen nearly 40% since the beginning of July to a large extent thanks to speculation in early August that the US Securities and Exchange Commission will issue a decision on ETF funds. Timothy Tam, CEO of CoinFi, is a data analysis firm specializing in digital currency, predicting that the market is starting a new bull run after having been in a doldrums situation for the last six months. According to the company, Bitman has just completed a new round of capital calls, which also has a positive impact on the market. Caixin reported that Bitman has raised $ 300 million to $ 400 million and is valued at $ 12 billion. The total market capitalization of the market is approaching the $ 300 billion mark, according to data compiled by Coinmarketcap.com. Bitcoin is down nearly 60% compared to the peak of all time.
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