The last few days have been quite hectic for crypto investors with Bitcoin and all other top 100 altcoins dropping huge amounts of value but now, things are starting to get back on track. Bitcoin is finally making gains and it jumped nearly $2,000 in only one day. This is amazing news because Bitcoin is basically the poster image for all cryptocurrencies and if Bitcoin didn’t recover from this recent crash, then no other altcoin would.
Bitcoin is Back on Track
Two days ago Bitcoin hit a low of $5,947 and this started scaring investors away. Things got even worse since Bitcoin didn’t seem to be making an immediate comeback, as it usually does. Fortunately, Bitcoin rose to $7.000 in no time and then it pushed until it hit $7,900.
The cryptocurrency slowly declined to $7,458,36 as of now but this still shows a 19.48% increase in comparison with the value it had two days ago. Moreover, the total market capitalization for Bitcoin sits at over $125 billion and more than $11 billion have been traded in volume during these past 24 hours.
Bitcoin to Go Over $8,000
If one thing is certain, that’s that Bitcoin will surely go over the $8,000 in the upcoming days. Considering that Bitcoin is making huge gains, investors are going to start buying digital assets once again which will help Bitcoin get even bigger.
The US Supports Cryptocurrencies
As every crypto investor knows by now, the main reason why the market crashed recently was because of South Korea and China’s regulations over the market. Seeing how these two big governments started regulating the market, people were afraid that the US might do the same thing.
Luckily, this didn’t happen since the Commodity Futures Trading Commission Chief J. Christopher Giancarlo and Securities Enforcement Commission chair Jay Clayton testified that their agencies are not looking to interfere with crypto trading.
Source: https://news4c.com/bitcoin-is-back-on-track-after-major-price-dip/
At the time of this writing, bitcoin price is $ 8089.37
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