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Bitcoin Trades at $41,500 After Reaching $42,200 Ten Hours Earlier

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Sat, 07/31/2021 - 07:06
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Yuri Molchan
Global cryptocurrency #1 has recovered to the $42,200 level but rolled back a little by now
Bitcoin Trades at $41,500 After Reaching $42,200 Ten Hours Earlier
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The world’s flagship digital currency, Bitcoin, surpassed the $42,000 level on Friday evening, printing five consecutive green candles on the BTC/USDT chart on the Kraken exchange and rising almost eight percent.

That’s a 22-percent surge in the past week, according to CoinMarketCap. Last time the market saw Bitcoin at this level was May 18 and earlier than that – on February 8.

By now, Bitcoin has declined a little, dropping to $41,440 and losing 2.15 percent.

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Image via TradingViiew

Bitcoin keeps rising after the rumours of Amazon readying to start accepting BTC, ETH, ADA and BCH later this year and despite the official rejection of these rumours by the e-commerce giant later on.

Related
Number of Large Daily Bitcoin Transfers Soars as Whales Keep Buying the Dip

While the king crypto traded below the $40,000 level, cryptocurrency whales kept accumulating it, according to the data provided by analytics vendors Glassnode and IntoTheBlock.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.