Hassan Maishera
TL;DR
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Bitcoin continues to trade above the $30k level after last week’s rally.
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Investors are anticipating Powell’s speech on monetary policy tomorrow.
Bitcoin Sustains Price Above $30k
Bitcoin, the number one cryptocurrency in the world, has maintained its value above $30k over the last 24 hours. The leading cryptocurrency added less than 1% to its value over the past few hours and is now trading at $30,392.
The performance comes after Bitcoin touched the $31k level last week. Bulls have been able to keep BTC’s price above the $30k psychological level in recent days as market optimism increases.
Investors are now focusing their attention on tomorrow’s speech by Jerome Powell, the Chairman of the United States Federal Reserve. Powell is set to give speeches on Wednesday and Thursday on monetary policy as the Fed kept the interest rate unchanged in June but signaled hikes later this year.
Bitcoin’s price has stagnated since the start of the week. However, the leading cryptocurrency has seen its price surge by more than 13% over the last seven days.
Bitcoin Cash remains the best-performing cryptocurrency over the past seven days, adding more than 100% to its value during that period. BCH reached a 1-year high of $220 a few hours ago.
The total cryptocurrency market cap continues to stay at $1.18 trillion, despite losing less than 1% of its value in the last 24 hours.
