Within the period of the last day, the cryptomarket gained 12 bln dollars as a result of BTC, ETH, XRP and BCH's short-term surge.
BTC price bounced back from 6,300 to 6,700 dollars, ending its streak of diminishing prices it started in May after reaching 10,000 dollars mark. It's difficult to confirm if Bitcoin has initiated its mid-term surge, knowing that the most popular currency is still prone to fall even lower in the short term. The cryptomarket has received an opportunity to stabilize itself after recent corrections that it experienced in May.
According to the most recent reports, in the event that BTC falls under 6,300 dollars level, it may start falling even lower, entering the higher end of the 5,000 dollars area.
For now, Bitcon has managed to stay comparatively steady in the middle of 6,000 dollars zone, even showing some momentum at times. However, if Bitcoin returns to the 6,400 USD mark within the following days, it will most likely continue falling down.
Financiers have turned more bullish, as the sudden rally was seen with Bitcoin's price. If the financiers desire to see Bitcoin reach the 7,000 dollars level and stay above it, Bitcoin has to restore the volume and keep on going up.
It can't be told for sure if Bitcoin has truly regained its bullish movement. It will be confirmed if the currency keeps up its trend for the next couple of days, staying above the 6,800 dollars mark, from which it would be possible for BTC price to go higher into the range of 7,000 dollars.