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Bitcoin price has increased 74% in the last six months, and recent developments suggest more gains are on the way. Specifically, the BTC dominance shows a bullish outlook while the short-term picture remains optimistic.

Bitcoin price rallied past $28,900, wiping out recent losses stemming from the Securities and Exchange Commissions crackdown on cryptocurrencies. Rising institutional interest in spot Bitcoin Exchange Traded Funds (ETFs) and news on regulation of cryptocurrencies in Europe and Southeast Asia has acted as a catalyst for the assets recovery.

The market capitalisation of cryptocurrencies rose 5.7% in the last 24 hours to 1,134 trillion. Bitcoin was the engine of growth, but buyers quickly expanded to some altcoins. Bitcoin is up 7.6%, Ethereum is up 4.7%, and the top altcoins are up from a modest 1.9% (XRP) to 9.4% (Litecoin).

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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cryptocurrencies European Wrap 21 June - FXStreet