Bitcoin, the giant of all cryptocurrencies, finally ended its longest steady stake in more than a year after its weekly chart emerged as a sign of uptrend.
In the last 24 hours, Bitcoin has been trading at $ 31,313.36, up 5.45%. BTC currently has a market value of $ 655,577,989,921.32, a trading volume of $ 25,562,050,803.35 and a circulating supply of $ 19,059,112.
The digital currency began to rise on May 30, when Bitcoin rose within a few hours to reach $ 29,977.
Since then, the digital currency has been in correction and is currently trading at $ 31,313.36, down from its highest price of $ 31,342.18.
The latest increase in the price of bitcoin may be a short honeymoon. The biggest digital currency hit $ 32,375 on May 1, the highest level in three weeks, but ended the next day and was dangerously close to hitting another week in the red.
Bitcoin trader Peter Brandt makes his predictions
During a downtrend, veteran trader Peter Brandt recently predicted that the price of bitcoin might fall to $ 12,000.
Brandt, who has long traded cryptocurrencies, said he expects Bitcoin to support around $ 20,000, but a further drop to $ 12,000 is possible.
The overall green market indicates an uptrend, as the top ETH and ADA coins rose 6.14% and 13.07% in the last 24 hours, respectively.
Other coins on the market are also seeing good profits, with BNB, SOL and DOT all rising more than 4% in the past day.
The market is bullish, so this is a good time for investors to buy contact options, however investors should be careful because the market is very volatile.
While the market remains in a state of uncertainty, it is important to remember that all investments are risky. Therefore, always do your research before deciding on an investment.