On Thursday, bitcoin trading showed signs that crypto markets are slowly experiencing bullish mood
Further-dated futures contracts have shown faster increase.
The term known as contango brings hope that Bitcoin value will keep growing. Moreover, a future growth is supported by bitcoin futures – price of further-dated futures is higher that price of near-dated ones. When investors trust in future growth of underlying assets, which was Bitcoin in this case, such a situation may happen.
Since Tuesday, Bitcoin itself has risen in $1.000 on spot markets, when it overleapt the level of $7.600. Compared to values from late March, it’s roughly $2.000 higher, what represents 30% gain. Yet, the oldest cryptocurrency still lacks around $2.700 to reach its record high values, and the step seems unreachable for now. In a few weeks, Bitcoin halving will take place, what will lead to slowdown of Bitcoin mining to its half. Usually Bitcoin price soars and this year should be no exception. The halving takes place once in four years.
