Price of bitcoin has seen a dramatic change in the last 24 hours with 10% rise in the price.The price of bitcoin has passed the 7000 usd mark which is highest since june.
So what was it that caused the price of bitcoin to rise suddenly in matter of hours?
It is all happening because of some positive news for bitcoin.
Factors leading to price hike:
1.In the previous weeks the SEC has decided not to classify bitcoin as security.
2.Trading volume for bitcoin has rose sharply and its on 60 month high.
3.News coming from blackrock to buy bitcoin .
4.Hope of bitcoin etf to be approved at the SEC by CBOE.
Altogether in the current scenario bitcoin has gained the right momentum to touch the $10k level.The chance of market corrections will be there ,but bitcoin enthusiast believes that bitcoin prices will reach a new high
