Bitcoin's (BTC) volatility fabricated headlines again later the original cryptocurrency briefly reclaimed its $xl,000 mark before going dorsum to $39,000 levels. Coming after a two-week-long surly loom that started on July 15, this is the second fourth dimension Bitcoin is trying to break $40,000 resistance in as many days.

Based on the information from Cointelegraph Markets Pro and TradingView, BTC witnessed a bull run for trading pair BTC/USD from 21 July that resulted in a spike of 34.thirteen% in just seven days.

The crypto community attributes the rising BTC price directly to the increased involvement of traditional banks and entrepreneurs such as Elon Musk and Michael Saylor. This week, Amazon's rumored interest in crypto too pushed the toll, although the tech giant later denied those rumors.

While the current cost indicators suggest that Bitcoin may stick to its ongoing support of the $thirty,000–$forty,000 mark, BTC is nevertheless to see a positive change of $20,000 before it tin can reach its former celebrity of $threescore,000.

What may seem like a good indication, the sudden push button to exit an firsthand resistance does non accompany the $30,000 corridor. By the fourth dimension of writing, Bitcoin'due south price is closing in on $39,500.

Related: Bitcoin price seeks higher low as trader forecasts $45K breakout inside weeks

In a recent survey conducted by CNBC on a grouping of portfolio managers and equity strategists, 44% of the respondents felt that Bitcoin's price would fall downward below $xxx,000. The other 56% of investors showed a more bullish outlook, with 6% hoping to see Bitcoin reach $60,000, near its $65,000 all-time high.