It’s no longer news that Bitcoin traders got their consolation in July, when the cryptocurrency gained an unexpected 24% increase in price, reaching its highest point since 2017. The spike was a complete surprise, not because it’s the first time, we all know about bitcoin’s price volatility, but because of how far the increase went.
June was not the best of months for Traders and investors, they lost about 6% in bitcoin value, but July seems like the magic wand that pays back the loss and moved the price of bitcoin to $11.350, a record-breaking increase since 2017.
The July spike has once again proven that bitcoin is worth the hype, and keeping a good number of the coins could actually be useful and profitable in the days to come.
The price of the cryptocurrency has gone down a bit now, marking the right time to actually acquire some of the coins and keep it till the price moves up again before selling out.
In 2017 when something similar to what happened in July also happened, the price of bitcoin almost reached $20.000 USD and this was really instrumental in deciding the future of the coin, and sustaining its relevance till this point.