Bitcoin crossed the level of 8000 USD. The bearish cycle ended?

Bitcoin crossed the level of 8000 USD. The bearish cycle ended?

Bitcoin crossed the level of 8000 dollars. Currently, the coin is trading around 8000 dollars after takeoff from the level of 7763 USD. Earlier last week, the cryptocurrency’s number one also overcame a level of 7,000 USD.

The first significant price increases occurred on July 17, when the coin popped out of the period of low volatility. Bitcoin traded at $ 6,700 and suddenly crossed the threshold of 7000 dollars and began trading in the area of 7380 dollars.

Then, late in the evening of July 18, bitcoin managed to overcome the mark of $ 7,500. After that, however, the price dipped below $ 7,500.

On 23 July, the price fell below 7300 dollars, but then continued growth. Over the next few days, the price grew and reached the level of 7600 and 7777 dollars.

Today, finally, the price of bitcoin managed to overcome the level of $ 8,000, the price rose sharply from a level of $ 7770. Shortly after overcoming the 8000 barrier, the price dropped to 7945 dollars, but subsequently recovered in the area of $ 8,000, and the peak price was recorded at $ 8024.

Many of the analysts predicted the increase in the price of bitcoin this week, because I think that “bottom” has already passed and the bearish cycle ended. For example, Tom Lee of Fundstrat believes that in the near future the price of bitcoin will overcome the threshold of US $ 20,000.

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