The crypto market bounced back, is the bull market coming?

According to foreign media reports on July 2, the market value of Bitcoin and Ethereum increased by 5% in the hours before the report, which was due to the sudden surge in trading volume.

 

In those few hours, Bitcoin’s trading volume soared by more than $1 billion, Ethereum’s volume increased by nearly 20%, and Tether’s trading volume reached $4.2 billion. The rising trend of Tether (usdt cryptocoin) and BTC / ETH indicates that investors are reallocating funds stored in the USDT to digital assets.

 

On July 3, CCN reported that the next 24 hours are critical to the crypto market and will define trends in key digital assets including Bitcoin and Ethereum this week.

 

A CNN report states: "The transaction volume of Bitcoin has recovered to US$4.6 billion, and the transaction volume of Ethereum has increased to US$1.5 billion. The recovery of daily trading volume of major cryptocurrencies means an increase in the stability of the cry market. The next 24 hours may determine the short-term price movement of Bitcoin throughout the week.”

 

(source from citicoins.com)

After 24 hours, on July 4, Bitcoin and Ethereum’s trading volume has risen again. Within the 24 hours, Bitcoin's trading volume reached $4.7 billion, and Ethereum's trading volume was close to $1.7 billion. That is to say, in this case, Bitcoin's price trend this week will be very impressive, and may break through the $7,000 mark.

 

Due to the short-term rebound in Bitcoin, tokens including Aelf (ELF), ICON (ICX), Zilliqa (ZIL), WanChain (WAN) and 0x (ZRX) have risen by 6% to 21%. ZRX has a yield of 21.5% for Bitcoin and 27% for the US dollar.

 

This rebound is a symbolic move, and its volume has increased significantly, which may determine the trend of the cryptocurrency market in July. So is this the signal that the bull market is coming?