This past week, we saw heavy gains in bitcoin above USD 7,000. BTC/USD gained more than USD 1,500 and traded close to the USD 7,550 level. Later, it started a downside correction below the USD 7,240 and USD 7,000 levels. However, the USD 6,750 level acted as a support and the price recently recovered above USD 7,000. Similarly, ethereum price corrected lower after trading above the USD 200 level.