Bitcoin retakes $10,400 as traders put up long positions

Bitcoin has once again broken above the $10,000 barrier this week, now sitting at $10,411. The cryptocurrency has been on a gradual uptrend since early yesterday and has posted gains of 2.77 percent in the last 24 hours.

Bitcoin is currently leading the top ten coins in terms of 24-hour growth, narrowly edging out Bitcoin Cash and Stellar to secure the top spot. Similarly, Bitcoin has seen its value skyrocket against other major cryptocurrencies in August, gaining more than 10 percent against Ethereum and 12.5 percent against XRP this month.

Although Bitcoin has experienced only modest gains this week, many traders and analysts remain bullish on Bitcoin. Case in point, according to Coinfarm, exactly 75 percent of the top-performing traders on BitMEX are in long positions right now. This means they expect the price to go up in the near term.

In related news, Blockchain—a wallet provider with more than 41 million users—integrated with crypto payment processor BitPay today, enabling its users to easily pay for goods and services around the world with Bitcoin. If it can encourage the HODLers to start spending, then it could help to boost adoption. But that may be no easy task.