According to Cointelegraph, Ben Simpson, the founder of Collective Shift, stated that Bitcoin has formed a "local bottom" and is moving towards an upward trend. The price of Bitcoin has been negatively affected by the German government's sale of nearly 3 billion US dollars and the repayment of about 8.50 billion US dollars by Mt.Gox creditors. Additionally, the assassination attempt on former President Trump this week has had a positive impact on the price of Bitcoin, as Trump's supportive stance on cryptocurrencies has boosted market sentiment.