The price of Bitcoin hit above the $8,000 mark for the first time since mid-May. But most of us in the crypto world have been expecting a return to the bull run like last year that drove bitcoin to almost $20,000.
The jump in price for bitcoin comes after a week that of increasing almost 20% to its price due to the news that mega investors desire to have bitcoin and cryptocurrencies, and the positive government regulatory news around the world.
Bitcoin's dominance rate (an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by bitcoin) rocketed to 47% this week, the best level since December of 2018, according to CoinMarketCap data.
With expected approval of exchange traded funds (ETF,) Bitcoin should continue on a bull run.
