Bitcoin rises in price closer to around 8.5 thousand dollars

© RIA Novosti / Evgeny to Betemporary in fotobabbles. Archival photoBitcoin rises in price closer to around 8.5 thousand dollars© RIA Novosti / Evgeny to Betemporary the image Bank

The price of bitcoin (bitcoin) is growing steadily, approaching the level of 8.5 thousand dollars, however, the value of cryptocurrencies is still considerably below the record high reached in December 2017, according to trading data and analysts ‘ comments.

According to the website CoinMarketCap, calculate the average price across more than 20 exchanges, as at 09.06 GMT bitcoin price rose by 5.12% to 8,321 thousand dollars. On largest by volume cryptocurrency exchange Binance bitcoin grew in price by 4.77% to 8,414 thousand dollars.

Other cryptocurrencies are also becoming more expensive: Ethereum increasing in price at 4.25%, to 478,53 dollar, Ripple — by 2.8% to 0,459 dollar, Bitcoin Cash — by 5.86%, to 854,05 dollar. According to CoinMarketCap, the market capitalization of cryptocurrencies is currently 302,3 billion dollars. The share of bitcoin accounted for approximately 47.3% of the total cryptocurrency market.

Bitcoin since the end of last week shows strong growth — the value of cryptocurrency for a few days has exceeded a mark in 8 thousand dollars, approaching the level of 8.5 thousand dollars. At the same time, if you compare the price of the cryptocurrency with a maximum of 19.78 thousands of dollars made in December 2017, it remains below this level by approximately 58%.

«Quotes of bitcoin exceeded 8.4 thousand dollars. The growth in the last week exceeded 1 thousand dollars, having several resistance levels that have formed in may. Now, formally opened the road for 10 thousand dollars», — said RIA Novosti Professor, Department of financial management of REU named after G. V. Plekhanov Constantine Ordov.

The expert notes that the alarming lack of comparable dynamics in alternative cryptocurrencies. In his view, this imbalance needs to be settled either in their growth or a rapid rollback of the quotes of bitcoin to the level of 8 thousand dollars. «Thus, if the current trend of bitcoin is the result of the arrival of new investors, the 10 thousand dollars we will see very quickly, and if this increase is only a consequence of the collusion of a number of speculators soon for 8 thousand dollars will be a hot battle,» concluded Ordov.

Bitcoin rises in price closer to around 8.5 thousand dollars© Integratiebeleid and bitcoin