Bitcoin Surges Past $40,000

The World’s leading cryptocurrency, Bitcoin’s market cap increased to $220.24bn in 30 days according to the analysis of data on CoinMarketCap.

On August 7, 2021, BTC opened trading at $42,832.80, had a high of $44,689.86, a low of $42,618.57, and closed trading at $44,555.80. Its market cap was $836,730,623,772 and it closed with a trading volume of $40,030,862,141.

Higher trading volumes mean more positive activity in the BTC market, which indicates greater investor security.

The resurgence of BTC prices has been sustained since August 8, with BTC trading at sustained levels beyond $40k.

BTC prices began to dip in May after Elon Musk said that Tesla wasn’t going to accept it as a form of payment again. China’s continued crackdown on BTC mining also had a telling effect on its value.

But Musk has since said Tesla would begin accepting BTC again once mining of the digital currency becomes more environmentally friendly.