The world of cryptocurrency celebrated the rise in Bitcoin’s value to $7000 after being stuck at $6000 for a very long time. In December 2017, Bitcoin reached a whopping price of $19,000. The current price is almost half of that. After a continuous descend and hitting the lowest ever, it seems that Bitcoin is rising back to it’s potential.
Market caps saw an increase in each of the top 100 crypto coins. Among these 100, 84 had an increase of more than 5%. A double-digit increase was observed in 24 coins including Bitcoin. This also includes Ox and Zcash. The significant Bitcoin increases were not followed by other currencies at this time, which is the trend usually follows. Instead, a new pattern was observed.
The theorized reasons for this increase are; the announcement of US regulators to open the door for exchange to list the tokens that are categorized as securities. Coinbase’s last week announcement of adding Cardano, Steller Lumens, Basic Attention Token, Zcash and Ox, and launch of Bitbox, a cryptocurrency exchange, by LINE. The rise in worth is not as much as Bitcoin’s previous worth of $19000. However, investors can be hopeful that it might reach the same value sooner or later. What do you think? Let us know in the comments section
