This year has been the worst year for the crypto currencies as the price of the most of the coin including the BTC has deducted by lots. In current months the price was swimming at $6000 but the week has rose to $7,700 Monday after breaking above the $7,000 level for the first time in a month last Tuesday.
Reasons behind it
The most important reasons behind the increasing of the BTC price is more institutions interested in cryptocurrency products since its price has deducted by more than 50% from its all time highest price in dececmber.
Another reason is that BlackRock will look into cryptocurrencies and blockchain has helped prices, and investors are awaiting approval of a bitcoin ETF which may come on august . This may bring the new thing to bitcoin and ther digital currency , so the investors are attracted to the bitcoin.
My view and prediction
Bit coin has been the top cryptocurrencies and predicted to be the $100,000 in 2020 A.D but the price of bitcoin of bitcoin is continuosly decreasing this year.But despite the fall and fears the bitcoin bubble has burst, crypto investors suggest cryptocurrencies could surge.
Lets hope for the best and hope for the rise of the coin and future of digiitization.