August 7 has seen Bitcoin (BTC) turn the tables after concerns it was heading the wrong direction when it retraced from the 42K resistance, which it has hit early this […]
August 7 has seen Bitcoin (BTC) turn the tables after concerns it was heading the wrong direction when it retraced from the 42K resistance, which it has hit early this week.
There was confusion throughout the week with experts wondering which direction the digital coin was going to take once it pulled back below $40 after testing the $42K level. Some investors and traders were even prepared for a drastic fall to somewhere within 20K reach.
But the trend now seems to be clear after Bitcoin (BTC) not only went past the 40K level but also broke past the $44K level and it is still climbing.
There are currently no major events triggering the sudden upward surge and it will remain a matter of wait and see to see if Bitcoin will maintain the bullish trend in the coming days.
Ethereum surges past $3k
Amazingly, Ethereum Bitcoin’s main rival blockchain also saw its cryptocurrency price surge past $3K.
Contrary to Bitcoin bullish rally that seems to be backed by nothing, Ethereum bullish rally can be attributed to the recent London Upgrade that was launched last Thursday.
Ethereum had started gathered momentum immediately after the London upgrade was launched and it has maintained the trend to date.