Bitcoin price is to soar again. Moreover, in the early hours of Saturday, the price of the cryptocurrency Bitcoin reached $9000. In fact, it’s a six percent in the 24 hours gone by.
Since the middle of the December cryptocurrency’s price has shifted tumultuously. It hit record high which was more than $19850. Its price slumped too low, down to the surface in January and February. In fact, governments and central banks around the world raised the vision of future regulation.
However, apart from the looming possibility of regulation, a range of high- profile thefts have also had a hand in the sudden rapid dips in value bitcoin. Moreover, bitcoin’s rivals also experienced alike.
On the other hand, experts say the latest recovery will be quite helpful. It will alleviate the pain of the digital coin’s severe loss in the first quarter of 2018.
Bitcoin prices previously slipped more than 50 percent following a record surge of 1,400 percent in 2017.
With the latest surge, Bitcoin’s owner also gained almost 29 percent over the past two weeks.
On Friday, similar cryptocurrencies such Ripple, Ethereum and Litecoin jumped up to 19, 7.5 and 4 percent respectively.
Traders gave a series of reasons for the remarkable recovery of Bitcoin, ranging from the end of the U.S. tax selling season to more investors entering the market