The market restructuring phase, the past-regulation level on China’s crackdown and the negative impact of the critics from very famous industry figures have just shown how stable Bitcoin’s price and trading system is.
Since last week recovery has started, BTC/USD has returned for almost $1,000 in price – as time of the press it is trading at $4450.97 with 3.16% gain in the last 24-hours on Oct 2nd.
Chinese regulatory posturing including the slow shutdown of its exchange industry, as well as negative comments from JPMorgan CEO Jamie Dimon, saw last month drag down markets across cryptocurrency.
While Chinese investors soon rallied to find alternative means to continue trading, a raft of well-known figures likewise came out in support of Bitcoin against Dimon.
One hoisting up factor that benefited Bitcoin was the “illegal” referendum in Spain on the independence of Catalonia returned an alleged 90 percent of voters in favor.
The impact on Bitcoin strictly due to this event is being increasingly reported, yet the evidence is dubious, according to commentators from within the crypto sphere such as WhalePanda.
Right. 🤔 #Bitcoin actually sponsored the referendum. The CEO told me. https://t.co/LEBJj5DPwn
— WhalePanda (@WhalePanda) October 2, 2017
When it comes to Altcoins, NEO is having a gaining momentum with almost 14% gain in the last 24-hours and Ethereum is battling to close above the $300.00 for two days now so the value opens doors for more surge.
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