Categories: Crypto News
| Published On Oct 12, 2016 11:45 am CEST  |  Updated on Aug 3, 2021 5:43 pm CEST | By iGaming Team

Bitcoin’s price is back on the upswing

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Bitcoin’s price deluged on 11th October during a sharp change in market confidence, at least that is how analysts call it.

 

 

The cryptocurrency rose to a peak of $639,97, which is around 4% higher than the daily low of $615,87. Even though this is not an astonishing increase, the advancement came after several weeks where bitcoin traded in a tight range after the hack of Hong Kong exchange Bitfinex.

 

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Petar Zivkovski, director of operations for bitcoin trading platform Whaleclub said the market is recovering on stronger liquidity. Zivkovski added: “This rise is perhaps a testament to a return to stronger confidence.”

Tags: Bitcoin