Bitcoin (BTC) peaked late on Monday at $8,907.17, later to retreat to the $8,600 range. But the coin has shown it has the potential for further gains, and the reasons are still valid to generate a new rally above the $9,000 mark. At this price range, BTC prices are showing year-on-year growth for the first time since the start of the bear market.
Here are the five factors that could boost the price to a new range:
Renewed Mainstream Interest
Coinbase, Kraken and Bitstamp show increased activity, riding on the growing trading volume on Bitfinex. This list of exchanges is notable for including fully legalized, fiat-to-crypto markets. Data from CryptoCompare shows dollar-based activity remains around 10% of all trades, while Tether (USDT) has a 75% share. The high-level activity on fully legalized exchanges is showing renewed mainstream interest. It is also a sign that exchanges potentially faking their volumes have lowered their sh...