The cost of the first crypt currency rose to a 12-day high.
On Tuesday, July 21, the Bitcoin appreciated 3% to a 12-day high of $9400. At the same time, the trading volume of the main digital coin began to increase. Within a few hours, they rose by 31% to $17bn. At the same time, the asset’s market capitalization reached $173bn, with 18.4m coins produced, RBC reports.
Bitcoin rose in price amid the S&P 500 index growth. Today it rose to 3277 points, the highest since February 24 this year. March 24, the index fell to a low of 2237 points. Since then, it has risen by 46%. In 2020, there is a high correlation between the quotes of the first crypt currency and American stocks. In June, this index reached 90%.
Since May, the main digital coin has been traded in a narrow range of $9000-10 000. Earlier, eToro analyst Simon Peters explained that the market of cryptovoltaic currency does not have enough institutional investors for long-term and repeated rise in price of bitcoin. According to the expert, in order to overcome the psychological barrier of $10,000 and reach levels of $30,000-40,000 digital money requires additional capital inflows.