While he was second half of May overloaded down by a continuous downward trend, today's price action could be seen as the start of the opposite direction. After reaching the lowest level yesterday near the $ 7,000 level, the Bitcoin saw a big jump above $ 7,500 in value and continues to rise slowly. If things go well, this could lead to a summer frenzy similar to the one observed during the same period last year.
In April,bitcoin has seen growth by almost 50% from its lowest level at $ 6,600 to growth levels above $ 9,600. While this was a sign that the downward cycle was over, May was the month of May as a boost to the devaluation observed between January and March of this year. However, the rise of the Bitcoin near 5% makes today the best performer since the first week of this month.
Perhaps the most exciting is the performance of alternative digital currencies traded against Bitcoin. With the top 100 currencies listed on "CoinMarketCap" showing a rise in prices over the past 24 hours. Almost half of the top 100 digital currencies have seen a two-digit increase, twice as high as the Bitcoin. Bytecoin (BCN) and Nexus (NXS) led the increase, with growth of 25% and 35%, respectively. Alternative digital currencies globally saw an increase in market capitalization from $ 182 billion to $ 201 billion, nearly 10% in other words.
Unfortunately, it does not cancel today's performance alone or softens the May losses. So that the global market value of all digital currencies is 30% lower than earlier this month. In order to reach the same assessments, today's activity must last and extend to June. Fortunately, the sentiment surrounding digital currency seems to be improving. John McAfee scribbled on Twitter, predicting that the price of the Bitcoin will reach $ 15,000 at the end of next June. While this 100% increase will be great, McAfee's forecasts for alternative digital currencies are also very high.
The expert on anti-virus systems and software suggests that Bitcoin Private (BTCP) and Golem (GNT) will see more than 10-fold growth by July, which will be accompanied by increases of 3 to 5 times for a handful of other alternative digital currencies .
On the other hand, a large part of the digital currency community is made up of university students. As such, the large volume of trading is likely to occur during this period when they return home from their colleges. If sustained price growth continues with volume at the beginning of June, this market may be ready for an exciting summer test similar to last year's. While the December highs were the best ever, the aspirants suggest that these price levels may be recovered sooner rather than later.
