The price of this digital currency had plunged up to 70 percent.
Bitcoin prices broke again above 10 thousand US dollars for the first after more than two weeks sluggish as investors increased interest. Bitcoin prices had plunged up to 70 percent after reaching the highest price in December 2017.
Bitcoin had experienced a number of negative news due to increasing news tightening regulation of this digital money in various countries. Also a recurring hacking case. The latest hacking case in early 2018 caused digital money assets in Tokyo's digital coinage, Coincheck, for 532.9 million dollars (USD 7.087 billion) to disappear.
Recent digital money is also feared to have an impact on financial markets and shake the notion that Bitcoin's price has nothing to do with other asset classes.
Fundstrat Global Advisors Executive, Thomas Lee, saw the new record at the peak Bitcoin price in July 2018 future based on this digital money history in 2010. '' Although it had dropped to 70 percent from its highest price level, Bitcoin market is still in good condition.
Based on Bitstamp data, Bitcoim's price rose to 10,234 US dollars. Bitcoin prices at the end of 2017 then skyrocketed more than 1,300 percent to the price of nearly 20 thousand US dollars.
Lee predicts, 2018 will still be a strong year for digital money and bigger digital money with a more stable network like Bitcoin and Ethereum still dominate.
As digital money prices recover, European Central Bank Executive Board member Yves Mersch warned that digital money is not a currency, but a speculative asset. Since there is no reliable publisher behind it, digital money can be worthless anytime so it is not surprising that digital money is not considered a paying instrument in many countries.
Head of Market Analyst Centtrip, Miles Eakers, said the increase in Bitcoin prices coincided with the movement of global capital markets. Eakers added, if it has penetrated 10 thousand dollars, Bitcoin price potentially also passed the price of 12 thousand.
Other digital money also shows recovery. Ethereum rose 2.5 percent to 933.24 US dollars and Ripple rose 5.3 percent to 1.15 dollars.