This month may set out to be a good one for Bitcoin. Bitcoin rebound its value on 2nd April from $6,500 to $7,000 and after this, it has hiked by 6% today and is recorded $7,439 at 01:32 PM on 3rd April. The entire cryptocurrency market records a daily gain of $10 billion.
Last month Bitcoin crashed its price, that was recorded to be the third crash in the mid of March in $5000 region after 2014 and very first in the year 2017. When all the cryptocurrencies were going through bad face there were some small cryptocurrencies such as VeChain and Steem which performed extraordinarily. Know more how VeChain survived amongst other cryptocurrencies, in the past days. Click here.
But if we talk about the last few days, the named cryptocurrency such as Bitcoin, Ethereum, Ripple and others are increasing their value a bit.
Although Bitcoin is unable to surpass the $7,350 mark. It’s due to lack of demand on most of named currency. But in the last 12 hours, the volume of trading has soared on major cryptocurrency exchange platforms namely Binance and Bitfinex.
However, Bitcoin regained its value to $9000 on 25th March but it declined further to $8000 and was unable to sustain itself and dropped somewhere $6,400. But, after a few days, it surged to the value $7500 and it seemed that it would further cross the $8000 region in coming days.
Earlier the (Relative Strength Index) RSI has recorded the value of 30 and now this value has also surged to the value 32. At the time of reporting, the bitcoin was selling in the neutral region without showing overwhelming sell or demand volumes.
The appearance of Goldman Sachs, the financial institutions may lead to improve the Bitcoin’s value and increase the demand amongst investors as per the John Matonis’ statement. He is a well-renowned investor and co-founder of Bitcoin Foundation. He further said that if Cryptocurrency further improves from the current state, there are bullish price expectations from it, later in the running year.