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Bitcoin did it again. On Saturday, August,5, it refreshed the historic high surging to $3,300 from around $2,800 the day before. It added almost 18% in value, and may definitely keep going. The current surge of Bitcoin has increased the market capitalization to more than $50 bln — $51,737,289,581.
We need to say the first attempt to break the psychological $3,000 level was made on August,1, when UASF was activated. However, that time Bitcoin was able to touch only $2,900, before it reversed the move on the back of uncertainty.
Cryptocurrency market believes in Bitcoin
Certainly, the sharp appreciation of Bitcoin was mostly based on the understanding that Segregated Witness activation is inevitable. Moreover, the market believes in the first cryptocurrency again after it survived without any troubles the recent events, including Bitcoin Cash hardfork. By the way, Bitcoin Cash (Bcash, BCC) has lost around 30% in its value.
So what’s next?
The future for Bitcoin has become brighter after it confirmed its positions in the world markets, thus, we think the further appreciation of the cryptocurrency is a settled thing. The nearest target for Bitcoin may be around $3,450, once the current resistance at $3,250 is broken.