Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?
There's still a lot of leg room for bitcoin and push the price to I doubt that bitcoin and crypto bottomed out already. Only factor that I likely attributed everything is the government stance against crypto. This makes investors skeptic and reluctant to pour in their cash. But sooner or later, they are going to the market because they can't resist the money they can made out of it.
2018 is still young, there's a lot of things that can happen to the price. We may have seen the price somewhat stuck between $8-$9K, but I'm sure it has more room for growth before the end of the year.
Most speculators thought was not like this, they had directly thought of $30k, $40k, $50k within this year and so on. What they were looking in the future was the price itself of Bitcoin and not really noticing the day by day changes of fluctuation made in the market. Governments are not really posing any threat to cryptos but warning people to stay away because it is not controlled by the government and that thought could lead to a loss because most of the people are not knowledgeable enough on how crypto's working.