After a start of the year dominated by a bearish trend, the bitcoin started the month of July with a rebound of 12 percent compared to last week’s lows. The cryptocurrency is increasing by 6% on Monday 2 July to about $ 6,620 and reached a peak at 6,680 dollars.
Last week, bitcoin fell below $ 6,000, the lowest level since November 2017, traders attributed the fact to maturing futures contracts and a general negative sentiment from new buyers.
The biggest and the first cryptocurrency in the world has struggled with that lack of enthusiasm, and prices have fallen by 52% since the beginning of January, however, remember that the bitcoin has risen by 145% since last July.
The same fate has also struck the main cryptocurrencies, ethereum is down 40% this year, while the XRP has lost about 80%. Litecoin fell 64 percent, while the cash bitcoin fell by 70 percent over the same period.
In this context, many investors think that the current capitalization of the cryptocurrency market of 270 billion dollars is a very low value considering the potential of the sector, even if the risk of a new bearish movement isn’t yet averted it is very likely that in the second half of the year it will be possible to see an increase in the prices of the main digital currencies.
Eyes focused especially on Ripple (XRP) whose price now seems to be very low considering the considerable efforts that the company is making to promote its products, xcurrent, xvia, xrapid, already adopted by the most important financial institutions and payment services in the world .
While the most optimistic forecasts see the price of bitcoins between 20,000 and 30,000 dollars per year, Ripple (XRP) could reach historic highs in the $ 3 area giving investors huge profits.