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Bitcoin Increases Its Valuation by USD 15 billion, Crossings the USD 7,000 barrier

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Varun Kesari
Varun Kesari
Blogger | Youtuber | Music lover | Tech enthusiastic | Proud To be INDIAN

The bitcoin price exceeded the night of this Saturday, May 11, the barrier of USD 7,000, reaching at the time of this article the USD 7,257, which is the highest price of this year.

The largest cryptocurrency is experiencing the highest gains of the 20 major currencies by market capitalization, rose by 4.4% in the last 24 hours at the time of this edition, while the rest of the list of the top 20 sees contradictory signals. Finance Coin ( BNB ) 4.3%, while Cosmos ( ATOM ) has dropped 5.6% at the time of this edition.

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24 hours ago the crypto active was located at USD 6,397 and at the time of writing is located at USD 7,257, which marks an increase of 13.1%. With these figures, the increase during the last 30 days is 44%.

A significant element in this BTC boom is the volume of dollars that have been exchanged in the last hours, reaching USD 28,253,724,608. This is an increase of USD 9 billion in the last 24 hours, while it’s market capitalization increased USD 15 billion in the same period.

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Bitcoin has risen more than eight percent on the day, trading at USD 6,950 at the close of this edition, according to CoinMarketCap. As for its weekly chart, the currency has risen almost 22%, rising in price since the weekend.

In terms of fundamental improvements, the release of version 0.18.0 of the Bitcoin Core client and the presentation of a Bitcoin Improvement Proposal (BIP) to add taproot (to improve privacy) and Schnorr signatures are positive news. The level of protocol and the operation of the network, which could have some influence on this price rise.

On the other hand, the Blockchain Week in New York and the Magical Crypto Conference are two events that have already begun and that could be driving this price increase. In these events, there are generally high-level debates and announcements of new applications or improvements that tend to positively affect the price.

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