From the bottom of the valley, smashing the $5,000 mark, is Bitcoin going out of the cold winter?
After a period of silence, Bitcoin was once again brought to the attention of the market. The price rose from last year’s trough to $5,000 on April Fool’s Day.
In the past, whether it is ICO or the cryptocurrency itself, the discussion has gradually cooled down due to negative news. After watching the excitement of the excitement, everyone began to pay attention to the blockchain technology itself, and the application of various industries has gradually surfaced. The price of the currency that has been silent for a while has regained attention at this time. Many investors are curious as to whether Bitcoin will regain its vitality.
The price has returned to $5,000, is Bitcoin coming back?
At the end of 2017, when the price of Bitcoin was the highest, the price had come close to 20,000 US dollars. However, the good times were not very good. At the end of the next year, the price fell to 3,000 US dollars.
After the craze and passion passed, the discussion about the cryptocurrency has been silent for some time, but since the beginning of April, the price of bitcoin has risen again, the price has returned to 5,000 US dollars, and has risen 25.74% in the past seven days. The prices of other major cryptocurrencies have also risen. Synchronous rises, like Ethereum, 18.76%, Ripple 16.12%, and Litecoin 53.20%.
All this will go back to April 1st April Fool’s Day, a news about the US Securities and Exchange Commission (SEC) will pass the Bitcoin ETF, let bitcoin prices rise 17% within 24 hours, driving the overall market value growth of the cryptocurrency With $30 billion, the past passion has once again been ignited. Many people want to ask, is Bitcoin coming back?
Going back to speculation and speculation, will the password currency market be healthier?
After a long period of time, Bitcoin prices once again broke through the $5,000 mark. Many people want to ask, will the price of the currency return to the price of $20,000?
Forbes believes that this depends entirely on the attitude of the regulator. The reason why bitcoin prices have plummeted in the past is that most of them are related to the fact that ICO is illegal in public financing, and even prohibits password currency trading activities. In addition, Bitcoin has been linked to money laundering and fraud, which inevitably affects investment willingness. .
When the currency price rushed in 2017, many people who bought coins did not understand the currency. They just thought that they would make money, so they followed suit, but now they continue to buy coins. It is definitely a basic understanding of the cryptocurrency, and less speculation. With hype, it is definitely beneficial to the development of the future cryptocurrency market.
Bloomberg analyst Mike McGlone believes that the phenomenon that Bit will be overbought is probably another bubble: “This is a persistent problem. It is a bubble. In my opinion, when there is a big bubble ahead, There are always more people selling than people who buy.”
Whether bitcoin will be in a healthier environment or become another bubble, there is still no clear answer, but it is certain that the cryptocurrency market will continue to fluctuate, creating new winners and losers.