'Bitcoin has recovered to the $11,700 level'

Bitcoin (BTC), the No. 1 cryptocurrency in market capitalization, has recovered to the $11,700 level with a short-term upward trend over the past 24 hours. However, it is still technically unstable, and it seems that it is difficult to recover the psychological and technical price range of $12,000. For this reason, some argue that Bitcoin prices may fall back to around $10,000. However, many analysts are optimistic about Bitcoin's long-term outlook.

For example, the top 10 cryptocurrency wallet apps such as Coinbase and Binance recorded a record number of downloads in July, claiming that technology investor Corey Clipsten) "has entered another early stage of bull market." In a related development, Bitcoin, a media specializing in cryptocurrency, cited the latest report from Apptopia, saying that the number of cryptocurrency wallet app downloads increased 81% year-on-year to 3.5 million in July.

Vinny Lingham, CEO of the CIVIC Foundation, a leading cryptocurrency entrepreneur and influencer, also expressed a strong opinion, saying, "Bitcoin, a leading digital asset, is likely to be traded at a price of $15,000 soon." But he added, "For at least a few weeks, we could see a price reversal and consolidation around $14,000."