Bitcoin surged to $40K for the second within two days

Volatility in Bitcoin price made the headlines once again as the original cryptocurrency briefly reclaimed its $40,000 mark before going back to $39,000 levels.

Bitcoin surged to $40K for the second within two days

After a two-week-long bearish loom that started on July 15, this is the second time Bitcoin is trying to break $40,000 resistance in two days. The crypto community attributes the rising BTC price directly to the increased involvement of traditional banks and prominent entrepreneurs such as Elon Musk and Michael Saylor. 

This week, Amazon's rumored involvement in crypto also pushed the price as the news shared in media that the e-commerce giant is planning to accept Bitcoin. Although the officials later denied those rumors.

While the current price indicators suggest that Bitcoin may stick to its ongoing support of the $30-40,000 mark, BTC is yet to see a positive change of $20,000 before it can reach its former glory of $60k.

What may seem like a good indication, the sudden push to exit an immediate resistance does not accompany the $30,000 corridor. By the time of writing, Bitcoin price is closing at $39,500.

Bitcoin is trading around $39,800 right now, according to data from coinmarketcap.

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