The BTC price is trading at around $ 10,700

This week, the price of Bitcoin rose slightly, amid positive news about the Bakkt platform. The future futures trading platform has finally received approval for launch from the CFTC.

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1 Bitcoin over $ 11,000

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Prior to the announcement, the BTC price was trading at around $ 10,000, and since then has risen to close to $ 10,900.

According to Thomas Lee, the co-founder of Fundstrat Global Advisors, he said that technical indicators indicate the possibility of short-term growth:

“It is encouraging that Bitcoin has grown since the weekend, even though there are not many macroeconomic events announced next week,”

Lee said.

Bitcoin over $ 11,000

Other analysts have indicated earlier this week that the price of Bitcoin is likely to rise to $ 11,200 by the end of the month, in a slow growth. They point out that the relatively small volume compared to July will mean a slow price increase.

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The data published by Messari suggests that the “real” volume of BTC trading amounts to about $ 800 million. At the beginning of August, as the price of Bitcoin rose to $ 12,300, the actual trading volume approached $ 2 billion.

Meanwhile, the other cryptocurrencies have not had very good results, largely because Bitcoin’s dominance is around 69%. This value was recorded in early 2017, when the total valuation of the crypto market was less than $ 100 billion. Currently, the total market value is about $ 280 billion.