Bitcoin, the largest cryptocurrency by market cap, has finally managed to reconsider and test the $45,000 level for the first time since May 18.
More precisely, the bitcoin reached the level of 45 thousand dollars today, August 8, at 6:05 am UTC on the “Bitstamp” trading platform, to return and is currently fluctuating between 44 thousand – 45 thousand dollars.
With this, Bitcoin has now recovered and is up more than 57 percent from its low of $28,621 in the past weeks.
The continued rise in the price of Bitcoin comes amid a heated legislative battle over the amendments to the crypto-tax provision of the US infrastructure bill.
Bitcoin price recently rebounded to its highest level in almost 12 weeks in the face of a large number of bears pushing the price down deeper towards $30 thousand levels.
Scott Minerd, chief information officer at Guggenheim, predicted that the $10,000 level could be the true bottom for major cryptocurrencies when bearish sentiment became rife in late June.
But the bitcoin currency has violated the expectations of “Minerd” and others and is seeking to reach higher levels, perhaps 50 thousand dollars, and then return to its highest level recorded at 64 thousand dollars.
For its part, the alternative digital currencies interacted and recorded varying positive rates.
Thus, the total market value of the crypto market rose to 1.83 trillion dollars, recording a 3.7% increase in the last 24 hours.