Bitcoin Recovery Breaks Back Over $10,000


Kollen Post writes:

Wednesday, July 31 — After falling below the $10K barrier on July 27 and splashing around in the mid-$9,000s for the intervening days, Bitcoin (BTC) is back in the five figures as of 3:15 PM UTC.

After starting the day around the $9,500 price point, BTC has seen steady increases on the day so that the token is up 3.88% on the day, which has seen general green across cryptocurrencies.

With a market cap of $178.5 billion, the largest cryptocurrency has slipped somewhat since a late-June bull market saw BTC peak just shy of $13,900, a price point that had, in turn, not been seen January of 2018.

Yesterday saw hearings on broad crypto regulations before the US Senate Banking Committee, during which Committee Chair Mike Crapo stated that: 

“If the United States were to decide we don’t want cryptocurrency to happen in the United States and tried to ban it, I’m pretty confident we couldn’t succeed in doing that because this is a global innovation”

This week also saw $55,000 predictions for BTC from a formerly bearish Joe Kernan of CNBC.