Finally, after some ice-cold days on the cryptomarket, there seems to be some green again in sight. Crypto coins such as Bitcoin, Ethereum and Ripple have shown considerable growth in recent days.
Source
Price drop
After the fantastic closing of the Bitcoin at the end of year, the course suddenly fell dramatically. Reports about banks in Asia that would curb the currency, promises from the Chinese government to ban crypocurrencies and the ban on buying cryptocurrency with borrowed money (credit cards) did not look too good.
In addition to the Bitcoin - which dropped from $ 20,000 to barely $ 7,000 - Ripple, Ethereum, Litecoin, Stellar Lumens and many other major coins collapsed.
Every year in January
Whoever has studied the graphs will see that there is a fall in prices every January, regardless of the news reports. Until now, Bitcoin has fallen horribly every year and then comes back more firmly. Given the fall in prices at the end of 2017, this is seen as a huge fall, but for Bitcoin HODL people it is not at all so exciting: "That's just how the Bitcoin works."
Will growth continue?
Experts and crypto traders hope that growth will continue from now on. The growth is still minimal, so any negative message can cause red numbers. Nevertheless, there is still a lot of confidence in all those currencies in the crypto world, so that rising prices could well continue.
Perhaps also that the message that the US Senate announced was easier to deal with Bitcoin, plays a role in this. Less regulation is after all in favor of digital currency.
More confidence, more purchase
And another factor that influences the increase in value is that there is more confidence in the Bitcoin and related currencies. More confidence naturally means that more people will step in and therefore there is more purchase of crypto coins. As a result, the value will also rise. So for now it looks like we can look forward to a green spring.