Baxia Markets
July 30, 2021

Bitcoin hovers around $40000 level

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Bitcoin’s market value surged to $753.6 Billion, or 48.71% of the total crypto market value.

At its highest price levels, Bitcoin’s market valuation was $1.184 Billion. During the day’s trading, the most prominent cryptocurrency ranged from $38,946 to $40,295. In the last seven days, Bitcoin’s value has risen 34.41%. According to Coingecko, the volume of the flagship crypto asset traded on the day reached $36.6 Billion, representing 37.6% of the total value of crypto assets.





On another note, Chinese miners seem to have re-deployed their operation overseas as the hashing power securing the world's two largest blockchains is on track of a slow recovery. Based on The Block's Dashboard, the seven-day moving average of Bitcoin's hash rate has slowly climbed up to and remained at the 100 exahashes per second (EH/s) level over the past three weeks. Bitcoin seems to be on track for a recovery period, but who knows, Elon might just send it on a rollercoaster ride with another tweet.


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