Bitcoin is on a roll now. It had been rising and rising for two weeks, and it had been breaking the records that they had set on their own. Now it is a fact that Bitcoin had gone through some rough patches during the year because of China’s crackdown.
Since May, it had been going down, and many investors were backing away, but now the tides have turned. According to the Coin Metrics, Bitcoin has been rallying a lot in the last two weeks, and we still do not know if this is the limit.
It can also reach new heights. However, for now, let us concentrate on the current value of Bitcoin, which is at its highest since it had been in May.
The cryptocurrency last traded more than 3% higher at $57,530.81 after hitting as high as $57,740.82.
The comeback of the bitcoin, which turns out to be a gain of another 12%, is most likely, and now that we have stated the percentage, we are sure that it would take it back to the value of the Bitcoin is one of its all-time high of about $65,00.
This may be because the government had officially announced that they literally have no intention of banning Bitcoin. This spurred on a lot of investors who were wary of investing because of the crackdown on it. This does seem like a good time to be a Bitcoin investor.
“We are here, and we are looking at food prices which had been good and they are all that are at a 10-year peak, oil is something that is topping the list for about $80 for the first time in five or six years, and this is not good as it is really hitting consumers in the pocketbook,” he said.
“A lot of investors are starting to look back to the original appeal of bitcoin as a store value that can be accessed at any point of time.”
That’s all for now. Have a good day.