The plunge in the price of Bitcoin and other cryptos was halted when feelers emerged that US lawmakers are in support of the introduction of legislation to guide crypto trades.
The market cheered the heartwarming developing with Bitcoin getting past the 8,000USD mark from the 6,000USD low of the past week. This sure makes my price prediction of 50,000USD for Bitcoin this year possible.
Many crypto enthusiasists are happy that the US did not follow the retrogressive step taken by India to ban the trade in cryptos.
What is needed is definitely to come up with a legislation to ensure that transparency is introduced in the operations of crypto firms and ICO issuers.
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