The past week has been marked by a slight degree of volatility on the cryptocurrency market, given the fact that prices dropped abruptly between the 1st and 2nd of August. However, right after the drop, a slow but steady uptrend began, thus bringing prices back to their previous higher values.
Bitcoin had a price peak of $11,354 was reported this week, and its current price is of $11,160. Thus, an uptrend in the value of BTC and other cryptocurrencies was achieved this week, which also influenced the derivatives market as we will later see.
Over the last 7 days, cryptocurrency prices have faced a short decline, yet we are nowhere close to a bear market, as values are likely to increase once again. With this in mind, in the case of bitcoin, a price peak of $9,339 was reported this week.
Over the last 7-days, the cryptocurrency market has been fairly stable. In the case of bitcoin, a short price dip was reported on the 27th of June, when the value fell to $8,882, yet the price quickly recovered and continued on a fairly-stable pathway.