The Bitcoin share price is on the upswing again, after recently falling below the USD 6,000 mark. Market experts blamed the rise in the share price on the increased trading volume in Asia.
The price of the BTC has risen by approximately 35 percent since the beginning of the week and currently stands at USD 8,218. After experiencing a bear market almost throughout the last three months, the prices of almost all cryptocoins are now pointing up again – led by the BTC, all larger cryptocoins increased.
This is probably also due to the fact that the story of the approval for the Bitcoin ETF is once again bubbling in the rumour mill. Rather than this, however, the increased trade volume on the Asian market is likely to be responsible for the rise in BTC – the Japanese and Korean markets in particular stand out here.
Geopolitically, the increasing trade war between the Trump-led US government and China is also playing a role in the price increase of bitcoin. The trade war had led China to devalue its national currency, which in turn led wealthy Chinese to hedge their assets through bitcoin purchases.
I’m especially excited about Bitcon’s price rising again lately since I’ve started to invest a bit in spring 2018 and I’d be happy if my loss would finally get turned into profit.