Bitcoin prices rose sharply today, climbing past $7,000 and rising to their highest since June as strong momentum drove gains.
The digital currency's price hit $7,440.25 on the CoinDesk Bitcoin Price Index (BPI), up 11.7% gain from the daily low of $6,663.03.
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Bitcoin surge: multiple factors contributing to the rally?What factors make Bitcoin rise again? Will it continue to rise?
Regulations are the main factor behind the crash, once clear laws and policies become established, then the price will naturally rise. It won't hit $20,000 again this year, but if the governments are willing to reach a middle ground for the crypto community, then we will most likely see better market prices with organic growth, not artificially manipulated pumps and hundreds of scam ICO's.
The more regulatory action we see, the safer investors will begin to feel, but the more centralized the initiative becomes. It is really a constant tug of war. Be a hero long enough, and you will begin to see yourself become more and more like the bad villain.