After the hard fork drama and the parabolic run for Bitcoin Cash, the past week was relatively quiet in terms of news. With the market overhang removed, the confidence in Bitcoin was restored and price reacted accordingly.
Compared to the previous week, Bitcoin price rose 27% to $7,800 and back to all-time-high territory. At one point, it even broke $8,000 briefly. It was incredible to see Bitcoin bounces all the way back and more in just a week.
Ether is also slowly climbing up, with price increasing by 14% to $345 compared to the week before. Is it finally time for Ether to break out of $300? We are optimistic about it.
Meanwhile, cryptocurrency as a whole is getting wider adoption each week. Square, a popular payment app, is piloting a program which lets users buy and sell Bitcoin. Coinbase launched a custodial storage service for institutional investors.
These are all great news for cryptocurrency as individuals and institutions will have an easier time putting money in cryptocurrency. As Mike Novogratz who is launching a $500 million crypto hedge fund puts it, the herd is coming.
