Bitcoin leads the cryptocurrency resurgence, climbs past $8,200 USD

Bitcoin has climbed past the $8200 USD mark, with traders and enthusiasts alike celebrating the pre-eminent cryptocurrency’s return to form.



After a difficult hike through the early months of 2018, Bitcoin has summited its first peak on a potential road to recovery, as this morning the pre-eminent cryptocurrency climbed past the $8,200 USD mark.

Having entered the year off the back of a roaring December, Bitcoin traded at $14,112 USD on the 1st of January – all before collapsing to $6194 USD on the 6th of February.

Since then, the wider cryptocurrency sphere has endured its latest bear market – without thousands of altcoins reportedly left to gasp for air.

In news that has left traders, enthusiasts, and developers alike elated, Bitcoin has risen by 3.84 % over the past twenty-four hours, and over the past seven days has risen in value by some 11.78 %.

Bitcoin’s dominance over the wider cryptocurrency market has also resumed, with the pre-eminent cryptocurrency accounting for some 47.3% of the total cryptocurrency market capitalization.

Sentiment behind the pre-eminent cryptocurrency has been bolstered thanks to the news that the United States Securities and Exchange Commission has been said to be evaluating several proposals for a Bitcoin-led Exchange Traded Fund (ETF).

While traders have endured pessimistic markets, several key figures have advocated their belief that Bitcoin’s return to form could just be beginning.

Notably, Fundstrat advisor Tom Lee has issued his prediction that Bitcoin will rise to $22,000 USD by the end of the year, while TenX founder Julian Hosp has iterated that the cryptocurrency could reach values as high as $60,000 instead.

Other voices have noted that while Bitcoin’s price value might attract and benefit speculative traders, evaluating both the adoption of (and transactions handled by) cryptocurrency networks paint a more compelling picture.

Billionaire venture capitalist Tim Draper, for one, has noted his view that Bitcoin will reach $250,000 USD by 2022, and has popularly claimed that “cryptocurrencies will overtake fiat currencies in the next five to seven years”.

While 2018 has been a difficult year for cryptocurrencies thus far, the past seven months have seen a number of important technical advents. Notably, several altcoins have broken away from beta offerings and have gone on to launch their official, proprietary blockchain – with EOS, Tron, Augur, and other projects debuting their official digital asset.

At press time, Bitcoin trades at $8278 USD and is up by 3.84% day-on-day.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: BRYAN SMITH
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Here’s Why Bitcoin Will Grow SUBSTANTIALLY Into 2019

It seems like the string of bad news surrounding Bitcoin and other cryptocurrencies is slowly coming to and end revealing a light at the end of the tunnel for the market.



Over the past week, Bitcoin and other cryptocurrencies prices have been up relatively high, especially when you compare them to other recent prices.

Despite the obvious boom for the market last December and then a substantial fall as we entered the new year which continued into February.

Some analysts looking at the current boom in the market believe that there are a few reasons for this.

Alternate cryptocurrencies are achieving more independence from Bitcoin and its fluctuations in price.

Recently, we’ve seen many other cryptocurrencies slightly deviate from what Bitcoin dictates in the market. When we see Bitcoin jump in the market, we usually see Ripple and few other figureheads jump a similar amount at the same time. This has made the cryptocurrencies somewhat aligned.

Analysts also believe that, considering everything that has happened in the past week, the market could be well on its way for a bull run within the next few weeks. If you do intend to invest, some experts have recommended that you invest over time instead of investing in bulk all at once.

Michael Collins, founder and CEO of GN Compass says that after a four-month bear market, there are strong signs that we are heading towards a bull. He continues to say that:

“Bitcoin dropping to about 6600 on the 5th of this month [July] was probably the bottom for the year, it’s price will continue to climb and probably hit a peak of around 15,000 this year… Cardano is the most impressive so far.”

Collins’ outlook on the market is very optimistic and if anything, bullish.

Other experts say that investors are limited on time to get on the ‘cyrptocurrency train’. This is something investors will have to decide soon otherwise they might be to late. After hitting the $8500 level, we could see Bitcoin soon after, surging up to $10,000.

After having a tough past month, the last couple of weeks, have seen Ethereum recover nicely. After ETH jumped the $500 dollar hurdle there could be a bright future for the digital currency.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Robert Johnson 
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