The bitcoin price has regained its value reaching to $1700 as per the data from coindesk, (BPI) Bitcoin Price Index. After going through a great fall in the past few days, where it drops down nearly $100. The best bitcoin rate reached till $1,848.75, the all-time high of cryptocurrency till date from 11th May.
The bitcoin industry is creating a great impact on investors and traders among the other cryptocurrencies such as ripple and ethereum etc. Due to the frequent fluctuation in bitcoin price currency is being adopted by many of the nations and countrymen.
The bitcoin analysts have their own views and statement taking the bitcoin.
Charles Hayter, co-founder, and CEO of exchange information service CryptoCompare stated:
“The price is pulling back after spectacular rises,” including “A correction is in play.”
Managing partner of Binary Financial Harry Yeh said “Prices can’t keep going up and not correct”
Petar Zivkovski, COO, Whaleclub, gave similar statements stating that a “healthy correction” in response to an upswell of recent rise.
“If it does, more downside is to be expected as traders rush to take profit on long positions they have held since the start of the bull run.”- Coindesk