Cryptocurrency market regained $2 trillion on July 6
Trading in the early hours of July 6th, on the other hand, presents an opportunity for a further surprising comeback. It seems that the cryptocurrency market value has begun an upward trend after reaching a bottom of $ 1.9 trillion, despite the fact that it is now far lower than its annual peak and even its levels from June.
After being below the price for a number of hours during the night, Bitcoin began to struggle to recoup $55,000 early on Thursday morning. This was after the cryptocurrency had been below the price for many hours. However, the present upward tendency does not necessarily indicate that the downward trend has come to an end.
Over the course of the last several weeks, Bitcoin has lost its reasonably steady level at $67,000, but it has hinted at the possibility of a comeback at practically every significant support zone, including around $61,000, $60,000, and $57,000.
At the end of the day, the direction of the coin in the days ahead will most likely be determined by the degree of danger that investors believe to be posed by Mt. Gox's repayments and the German government's decision to dump Bitcoin. It is also expected that the rate at which the repayments from Mt. Gox are being made, as well as the desire of creditors to promptly sell their long-awaited Bitcoin, will play a significant element.
