The BTC price is trading at around $ 10,700

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.

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.

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.

rypto market was less than $ 100 billion

The BTC price is trading around $ 10,700 with a market cap of $ 190 billion.