The cryptocurrency market or digital money is coming back to fruition because of the rising price of Bitcoin. Satoshi Nakamoto Digital Money is jumping back to US $ 10,000 or (Rp 135 million / US $ 1 = Rp 13,500).
The rising value of Bitcoin attracts new buyers and also causes the price to increase. Bitcoin prices rose back more than US $ 10,000 per coin on Friday (16/2/2018) for the first time in two weeks.
Previous Bitcoin has lost two-thirds of its value in a drastic decline that occurred some time ago, from record highs exceeding US $ 19,000 in mid-December to a low of less than US $ 6,000 last week.
But thanks to regulatory statements that have eased concerns in currency trading, Bitcoin's value is starting to rebound, even some analysts say the rise has sparked new buyers into the crypto market.
Within a week in conjunction with Thanksgiving, Coinbase's Bitcoin International buying and selling market, has about 300,000 new users raising bitcoin value from about US $ 8,000 to US $ 10,000.
''Most of the gains took place in December and all investors in January 2018 focused on the prohibition rules especially in Asia, "said Brian Kelly, CNBC contributor and head of BKCM, which manages digital asset strategies for clients as reported by CNBC on Friday (16/2/2018) .
That all changed when CFTC Commissioner Giancarlo spoke at the Senate Banking Committee and changed the content of the rules. It seems that negative regulatory news has passed us and investors can invest more confidently, "he added.
Reported from CNBC, bitcoin first hit US $ 10,000 on November 28, 2017 as interest in crypto increased sharply.
Financial research firm Autonomous Next estimates that 167 cryptofunds were released last year. Their data show 20 similar funds have been launched this year up to February 10, bringing the total to 225 with about US $ 3.7 billion of managed assets.
"Although the price of cryptocurrency is volatile, we continue to see increased interest in creating investment products in this space," said Lex Sokolin, director of global fintech strategy, in a statement.
Surely, the excessive increase in bitcoin value in the last 12 months from less than US $ 1,000 to over US $ 19,000 means that the "psychological key" to bitcoin is hard to pin down.