Bitcoin is moving rapidly towards $12000

Bitcoin Trading

Bitcoin has been gaining new momentum after a sharp correction in June. The father of Cryptocurrencies is now on track to breaching $12.000 after gaining more than $400 between 11:00 and 11:15 CET.

Analysts have noticed that Bitcoin and Altcoins have been decoupling and all signs point towards an upwards movement for Bitcoin.

The search trend for Bitcoin has been rising steadily throughout the Bullrun and has reached a new peak this week, signaling outside interest and possibly money moving back into Cryptocurrencies and Bitcoin in particular after a rough and discouraging year.

Google Search Trends for Bitcoin (Source: Google)

The 24-Hour Volume of Bitcoin looks promising as well, sitting at just above $21 billion for today, trending upwards for the first time since July 4th.

Ethereum is showing a strong upward trend as well. After breaking $300 for the fifth time this summer in the early morning hours of July 8th, it looks like Ethereum can stay above the $300 mark with volume increasing to $9 billion.

The overall market cap is sitting at $335 billion and could very well break $400 billion this month with what looks like fresh money moving into Crypto and a bullish outlook for the rest of this summer.

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Source: Coinmarketcap


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