Join the BitcoinNews Telegram channel for daily updates >>LINK

Bitcoin Breaks into Pamplona Strides at over $8,200: Some Reasons Why

Bitcoin Breaks into Pamplona Strides at over $8,200: Some Reasons Why

Support free writers: > send a tip

written by

With Bitcoin now at USD 8,219 at time of writing, it appears that the flagship digital currency could finally be back on a bull run. The predictions abound, but with 20% back on its price after a week, Bitcoin is making up some fast ground.

As with most things, the good news is always a boon for morale and the two months have certainly seen plenty of motivating factors capable of pushing the coin upwards. CoinMarketCap gives Bitcoin a 47% dominance rate, unseen since December last year when the landmark USD 20,000 valuation was reached.

Some of the factors contributing to the bull run must start with the US Securities and Exchange Commission’s (SEC) Bitcoin Exchange Traded Fund (ETF) talks which look set for approval, according to an unconfirmed report last week. According to Forbes, two sources at both the SEC and at the US Commodity Futures Trading Commission (CFTC) see the green light being given in mid-August. If so, purchasing of Bitcoin would become far simpler, which is bound to meet with crypto public approval.

As Bitcoin News reported last week, asset managing giant BlackRock is rumored to be considering moves into cryptocurrency. The company, which is the world’s largest asset manager with assets under management of over USD 6.3 trillion as of November 2017, is said to be putting together a team of experts in the field to investigate blockchain and cryptocurrencies.

Despite a denial of the rumors from its management, BlackRock did not rule out a future involvement. Its status as a hugely successful company will ensure that any move into the cryptocurrency arena is sure to have ramifications, with expectations that the company’s global assets could double by 2022.

Another jolt in the arm for the crypto space was the appointment of David Solomon as the next CEO of Goldman Sachs – a man who has publicly discussed the financial benefits of cryptocurrency trading. This, of course, on top of the announcement by Sachs itself in May that it plans to use its own money to trade in Bitcoin futures, after a decision by the investment bank’s board of directors following customer pressure.

In June, Sachs revealed that cryptocurrency trading could be a possibility in the future under its “evolve and adapt” policy. Former vice president of the Investment Management Division at the bank, Christopher Mattis, said in an interview on CNBC that he would invest his mother’s money into Bitcoin.

Regulatory news has also been good for Bitcoin in the last week with comments from G20 members of the international financial watchdog, the Financial Stability Board (FSB), reporting that cryptocurrencies posed no risk to the global financial system.


Follow on Twitter at

Telegram Alerts from at

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


The Tragedy of Fiat Money

Over the course of the last 18 years, the European Central Bank (ECB) printed new currency, multiplying money supply by more than 5 times, bringing it to 1308 billion. Here we discuss whether or not the central bank’s actions could be considered a robbery.

Read More »


Join our Newsletter

Video of the Week


Latest on Bitcoin News

Join our Newsletter