With the return of retail, bitcoin prevents fall and stays above key indicator | Future of Money

Despite the fall from its historic high, above $64,000, recorded in April, the price of bitcoin remains above an important indicator for the long term, in what experts point to be a reflection of the optimism of investors with the largest cryptocurrency in the world .

Prices ranged between $46,350 and $46,453 in the past 24 hours, according to Coindesk data. The cryptocurrency continues with an accumulated increase of 57% in the year and is on its way to return to the range registered on April 14, when it reached 64,829 dollars.

“After a quiet month of July, we’ve seen returns from retail investors,” said Caroline Bowler, CEO of Australian cryptocurrency broker BTC Markets. “The market draws a line between the retreat of Chinese bitcoin miners and the recentralization of activity in the US and Europe.”

Indeed, blockchain analysis by data company Kaiko suggests that cryptoactive activities have migrated from China to the United States and Europe as the communist state continues to enforce laws against cryptocurrency mining in the country.