Bitcoin price rises above $ 12,500 and market demand continues to grow

Bitcoin price rises above $ 12,500 and market demand continues to grow

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Bitcoin price rises above $ 12,500 and market demand continues to grow

Over the past 24 hours, the bitcoin price has added $ 1,300 and exceeded the level of $ 12,500, which is the highest level since January 2018. The crypto industry is experiencing a new upswing, and analysts predict further market growth.

Since June 10, the Bitcoin market has seen a steady increase with short periods of correction. Only in the last 24 hours the BTC course grew by 11% and at the time of writing is $ 12,514. The positive news background and the entry of large companies into the industry attracted the attention and interest of investors. Analysts note that market demand now doubles supply, further stimulating price growth.

Miner manufacturers also note sales increase compared to Q3 2017 conditions. According to the company, the average payback period for most ASICs has dropped to 60-150 days, which is twice as fast as the previous level..

The stable development is also facilitated by the strengthening of the position of Bitcoin, whose market share reached 61.8% with a total market capitalization of more than 220 billion. Despite being overbought, the bulls continue to successfully storm new resistance levels. However, they usually take a break after such rapid races, during which a sharp correction can occur. Although any pullbacks will be temporary as long-term technical indicators favor a bullish trend.

In general, the crypto market is actively recovering its positions. There is a steady increase in daily trading volume and total capitalization.

Altcoins are also trying to follow the leader, but after last year’s crisis, investors are no longer pushing their rate so actively. During the day, Ether (ETH) grew by 5.36% and is traded at $ 330, and Ripple XRP  added only 0.92% to $ 0.473. Bitcoin Cash (BCH) climbs 0.82% to $ 485, while Litecoin (LTC) drops 0.49% to 135.

Trading platforms have a huge impact on the development of the crypto market. Therefore, BDCenter Digital conducts the world’s largest anonymous survey of crypto exchange traders., to better understand user needs and improve performance platforms.

text: Ivan Malichenko, photo: Shutterstock, charts: CoinMarketCap, TradingView

Bitcoin price rises above $ 12,500 and market demand continues to grow