Bitcoin has again become the talk of the town as its price has surged past the mighty $7,000 mark and at the time of writing, it is standing at around $8,046 after showing a -0.73% change in price in the past 24 hours. A strong bullish trend has set in since bitcoin flipped its behavior from bear to bull at the start of the last month.
The strong upward trend shown by bitcoin’s price is possibly linked to the overall positive sentiment that has been developed around it in the recent past. Just recently, it was announced by one of the biggest names in the “Wall Street World”,Fidelity Investments, that it will be adding bitcoin trading to its institutional investment services. An online investment service also started offering stimulated bitcoin trading through NASDAQ around the same time, developing a more favorable ecosystem for bitcoin adoption.
Right now, it seems that the general sentiment that was being built around bitcoin by statements originating from people like Jack Dorsey (Twitter CEO), John McAfee and many other hard-hitters in the tech and finance world is finally showing its true colors. Despite the notorious hack on Binance that took place a few days ago, investors and traders are not stepping back from investing in the digital asset.