Bitcoin Recovers to $4,000: Why Industry Execs See Big Crypto Rally Ahead

Joseph Young
Bitcoin is trading above $4,000 again and could be primed for a major rally. | Source: Shutterstock

In the last 24 hours, the bitcoin price has slightly recovered to $4,046, recording a minor 0.7 percent increase against the U.S. dollar.

The positive upside movement of bitcoin led alternative cryptocurrencies to record gains in the range of 5 to 33 percent against both bitcoin and USD, as the valuation of the crypto market rebounded to $140 billion.

1-Day Bitcoin Price Chart (Source: Coinmarketcap.com)

ERC20 tokens in the likes of ICON, Wanchain, AION, and 0x demonstrated solid 3 to 5 percent gains on the day.

Sentiment in Bitcoin and Crypto Market is Changing

Despite the stability in the price of bitcoin in the past several months, the trading activity in the cryptocurrency market has noticeably increased as seen in the volume of major crypto assets.

The cryptocurrency industry has continued to see companies move forward with the expansion of services and products, aggressively growing amidst a 15-month bear market.

On Tuesday, for instance, Switzerland’s largest electronics retailer Digitec integrated bitcoin and crypto payments, a move that may fuel merchant adoption of cryptocurrencies in the region.

Read the full story on CCN.com.