After bitcoin’s bull run in the 4th quarter of last year, it took what some might called a slight dip following waves of bad news (down ~70% from ATH). However, the last two weeks have been very pleasant for bitcoin once again. Since the 6th of February bitcoin has increased more than 60% in value, breaking the $10000 mark today.
Source: Coinmarketcap.com
Here we see bitcoin’s incredible recover from the lowest point of $6150 to $10000
Source: Coinmarketcap.com
Some of the things that most likely have had an impact in this recent bull run are the positivity and optimism of the US Senate towards the future regulation process of cryptocurrencies and the fact that South Korea confirms that it has no plans to ban bitcoin and cryptocurrency trading. Recently we have also seen an increase in institutional money interested in the crypto scene with many crypto hedge funds opening all the time. Furthermore, many of the people who got into cryptocurrency during all the media hype have now sold their bags since they never invested in the technology, only the hype. At the moment bitcoin is in a very good spot with many experts predicting that 2018 will be another huge year for bitcoin.