Bitcoin price

Over the weekend, the price of Bitcoin has risen up to $592 and continues to grow. Buyers have resumed buying Bitcoin, but the situation is still under the control of sellers.

Last week was a turning point for the price of Bitcoin, as it dropped sharply by almost $100. And we can’t expect a rapid recovery of the price soon.

Yesterday, all trading on the cryptocurrency exchange Bitfinex was stopped, money withdrawal and digital deposits were also frozen.

On August 2, 2016 18:16 UTC Bitfinex, Bitcoin and Altcoin exchange announced that it is dealing with a security breach that affects some of its Bitcoin wallet balances. Trading on Bitfinex is halted as well as Bitcoin and Altcoin withdrawals and deposits.

By the end of the weekend, Bitcoin’s price slightly collapsed to $624. This may be the beginning of a long downtrend if buyers stay passive while sellers are taking the initiative into their hands.

One feature of Bitcoin, especially this week, is that the price of this coin holds on at the same level for quite a long time. But when the price finally changes, the question arises: why did it change? What factors increasingly impact BTC price: market or technology?

After the slight decrease that we have seen over the past two days, the Bitcoin price returned to a level around $660. At the moment, this level supports the price and doesn’t let it to move down. The lack of sellers in the market, speaks to the imminent resumption of the uptrend.

Bitcoin price last week remained mostly stable, as small fluctuations up and down did not change the situation. Macroeconomic news, which gave a favorable backdrop for risky assets also did not affect the movement of Bitcoin price.

Bitcoin price movement has gone quiet and isn’t moving neither up nor down. But today, the situation may change. Macroeconomic news from the US and Europe could cause fluctuations on the currency market and will give an impetus to Bitcoin price growth.