Bitcoin Drills Into $22,000 Level – But Not All BTC Investors Are Jubilating

Bitcoin (BTC) is now showing signs of vigor, after weeks of being smothered in crimson, and drilling past the $21,000 level, to the delight of crypto investors. As of this writing, the most sought after crypto asset is trading at $22,200, up 13% in the last seven days, data from Coingecko show, Friday. BTC reclaimed the $20,000 threshold on Wednesday, seven days after going below it. The cryptocurrency is trading at less than 70 percent of its all-time high near $69,000, but is currently far above its mid-June selloff low of $18,000. Friday, the market capitalization of all cryptocurrencies increased by about 2 percent over the previous day. On the same day, the global crypto market was valued at $919 billion. Suggested Reading | Ethereum (ETH) Shifts To High Gear – Crosshair Locked At $1,250? Bitcoin Green Day – On To The Next Support The volume of the cryptocurrency market, on the other hand, decreased by more than 18 percent over the past 24 hours, according to statistics from Coingecko. Friday’s crypto market volume was estimated at $55.25 billion. According to Harris Financial Group Managing Partner Jamie Cox, the “Green Day” on the markets comes in the wake of rising unemployment claims in the U.S., which could indicate that the “pressure on wages may have now peaked.” After a transition above the $20,500 level, the price of BTC began a steady ascent and tested the $22,200 mark, where i...