The price of Bitcoin has been steadily climbing lately after a quite a long while of inactivity. BTC value has been going through a 20% increase since July 23. After the “halving” back in May, it touched the $10,000 milestone for a while, then dropped to $8,800 not long after. But with the price surge reaching a high, investors were once again encouraged.
Retailers have also been reaping the benefits of the price increase, and several online cryptotrading platforms experienced insane amounts of trading activity. BitBull capital, one of the platforms affected by the hype, finds FOMO (fear of missing out) to be a key factor in the overwhelming activity. Bitcoin has been a popular subject of discussion as well especially in Twitter.
Trade surges rose up to 40% more than the average on BeQuant,a crypto brokerage service owned by Denis Vinokourov.
Since the end of July when cryptocurrency values began to go up, slots began opening, specifically in eToro, another trading platform where BTC slots had a 222% opening, 421% for ETH, and 170% for XRP.
The US Office of the Comptroller of the Currency approved having cryptocurrency as a legitimate bank asset last July 22 in recognition of the growing digitalized trend in banking.
“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers.” The news contributed to a 5% price hike on Bitcoin price.
People’s positive impression on Bitcoin and cryptocurrency in general is building up. Twitter discussions about Bitcoin and its future were 68% positive.