Bitcoin price returned higher $40 000 – Bits Media

The price of the first cryptocurrency continues to recover - the bitcoin rate returned higher $40 000. Top altcoin rates are also growing: ETH reached $2 850, а BNB – $375.

Recall, that last week the bitcoin rate fell to $30 000, but then returned to $40 000. Subsequently, on the background possible mining ban in China, The BTC course decreased to $37 000. However, while the authorities of the Middle Kingdom have not made specific statements on this issue., and the course of the first cryptocurrency began to recover. At the time of publication, the BTC is traded in $40 020.

According to several analysts, now the main attention of traders is riveted to the marks $42 000 and $49 000. It is at these levels that the orders for the sale of BTC for significant amounts are located. Open interest in the Bitcoin futures market declined from $27 billion to $11 billion, which indicates the possibility of continued growth of the BTC rate.

Pushed Bitcoin to growth and Elon Musk's tweet (Elon Musk), who became one of the most influential people for cryptocurrency trading. Marvelous, but thanks to Musk's Twitter messages, many users began to consider him the creator of bitcoin, although, certainly, he is not. Musk wrote, that he spoke "with many miners in North America, and they will be happy to switch to renewable energy sources”.

Interesting, that the current correction of the cryptocurrency market has led to, that a part of institutional investors began to transfer funds from cryptocurrencies to gold. JPMorgan analysts believe, that in the long run the Bitcoin course will continue to grow, however, in the near future, the cryptocurrency market may continue to decline.