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Here we are again. Those who doubted Bitcoin (BTC) and forecasted the age of cryptocurrency will soon be over need to think again. Bitcoin showed renewed strength by gaining 23% in the last week only. Is the shiny knight back?

The recent days have been very good for Bitcoin and its investors. As a result, the price of the BTC unit has reached and extended past $7,000 US. At the end of June it was ‘only’ $5,818 US.  It is too early to say if the rollercoaster is back again. Still, it has dropped a long way from nearly $20,000 US in mid-December last year. Additionally, the level of $7,300 US is a strong resistance level in terms of stock exchange technical analysis.Therefore, it is probable that the rate will remain on the current level for some time. Don’t treat this as a piece of investment advice, as BTC has developed against projections.

@peakdemand

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