The bitcoin price has repeatedly tried and failed to gain a footing over $12,000 per bitcoin but is currently stuck trading around $11,800. Now, as a number of high-profile investors turn to bitcoin amid unprecedented coronavirus stimulus spending, the biggest bitcoin and crypto wallet apps, including Coinbase, Blockchain Wallet, Crypto.com, BRD, and Binance, saw record combined downloads in July—suggesting to some bitcoin is "in the early stages of another bull market." SOPA Images/LightRocket via Getty ImagesIn July, the top 10 crypto wallet apps increased net new installs around 81% year-on-year, according to research carried out by app data website Apptopia. Coronavirus pandemic lockdowns as well as the growing popularity of bitcoin and cryptocurrency in emerging markets were found to be apparently driving the increase in bitcoin and crypto wallet downloads. The bitcoin price surge at the end of July, taking bitcoin to its highest level since June last year, triggered a bitcoin retail trading boom with exchanges around the world reporting sky-high bitcoin trading volume.

Source: Forbes August 25, 2020 06:08 UTC