Quote from: AicecreaME on Today at 11:13:18 AM

Quote from: Leviathan.007 on August 07, 2021, 03:04:22 PM

The price of Bitcoin has exceeded $ 43,000, while the price of Ethereum has risen 24 percent in a week, bringing the total market value of cryptocurrencies to $ 1.8 trillion, which has risen to $ 140 billion in just 24 hours.
Finbold reported yesterday that Bitcoin trades above its simple 100-day moving average. Further gains could pave the way for short-term gains in the $ 42,500 resistance area that Bitcoin has crossed as cows seek to raise the price of Bitcoin to a significant $ 50,000.
More specifically, the world's leading digital asset in terms of market value has increased by more than 7.06% in the last 24 hours and 4.41% in the last week. Its current price is $ 43,670. In addition, according to CoinMarketCap.com, the overall bitcoin market dominance is 45.93%, up 0.02% from the previous day.

Source: https://finbold.com/crypto-market-adds-over-140-billion-in-a-day/

I think this is just the result of the mass adoption of bitcoin by several big establishments and companies which was broadcasted recently. The value of bitcoin is expected to go up because there are big corporations that have laid their eyes on btc recently. Big investments by big personalities and adding the fact that adoption of bitcoin in different platforms is slowly coming to life is what entices more investors along the way.

Of course, volatility still plays a great role in this kind of pump and dump. This is a very great illustration of what volatility can do to the position of any cryptocurrency there is in the market. It can go up in a short span of time and then dump later on, after several hours of high position. Whatever the price it will have, just never get lost and know your limit in risking.

There was also talks about laws from the European Union that large funds are allowed to invest a certain portion of their assets into cryptocurrencies. I don't know when the new law took effect, but I think it was quite immediately after it was passed. Might be a couple of weeks ago. Who knows whether that also contributed to the recent price increase, could be a possibility.