Bitcoin Prices Projected to Reach New High
Following another cyber-attack that caused Bitcoin prices to plummet after reaching an all time high price of $3,000, it is now being projected to, not only recover fully but also overtake its past record.
The recovery of bitcoin prices are persisting, and even today the recovery of prices in the bitcoin exchange market has seen the price surpass the $2,800 mark.
This is coming in the immediate aftermath of crashing and reaching a low for the month of $2,100. This, of course, created a rush in the bitcoin exchange market and people whose personal finance include buying and selling bitcoin were in a sudden rush to sell. Seven days after that, the global average of bitcoin prices had surpassed $2,800.
Currently, at the penning this article, the price of bitcoin on Coindesk is $2,827.17 following a recovery after falling to a daily low of $2,730 on the previous day.
The crash that hackers incurred on the cryptocurrency landscape last week that allowed for unmitigated losses across the bitcoin exchange market had a redemptive feature in projections of guaranteed recovery towards a sustainable price level.
A good number of investors were feeling uncertain as to the future of bitcoin after last week, specially following a trend of good news and great news. But, things do seem like they will be solved, and this is all viewed as something that will probably encompass a point of growth for the entire cryptocurrency space.
This year, the bitcoin exchange market has grown becoming the biggest it has ever been. It has managed to reach a valuation size of $100 billion in early June and it is apparently going to persistently grow into $113 billion later this week. This amounts to almost half of the size of the cryptocurrency markets as a whole, with other cryptocurrencies like Eheteum have reached a mark of capitalization bordering on $80 billion
The incorporation of bitcoin is definitely being held back by its volatility. Despite the high valuations, the fact is that investors, along with globalist economic forces have a reluctance to adopt the cryptocurrency if it is so vulnerable and unpredictable.