Is the Cryptocurrency’s Rally Back On?
Do you remember that less than a week ago Bitcoin was going through some sort of a crisis? If not, you can catch up by reading our recent post about China’s decision against ICO. If you remember, you might like to know that it now appears that the Bitcoin rally could be back.
The cryptocurrency is back above $4,000, climbing more than 20% since its lowest point on Friday.
Why is the trend changing? We can’t know for sure, but there are some possible explanations. For starters, it could be that Chinese traders are turning to loopholes in the recent decision, or are simply seeking alternative exchanges.
If actions from the powerful Chinese regulator aren’t enough to get traders to change their minds about this cryptocurrency, we wonder what will. The most interesting thing to see would be whether Bitcoin succeeds in throwing off attempts of major governments to control it and its legal status. One of the main feature of a decentralized cryptocurrency is that it’s so-called “free” of government intervention and manipulation, but it remains unclear if major governments could, through legislation and regulation, impact the price of popular cryptocurrencies.
Do you think governments have a chance in affecting the price of cryptocurrencies – or will they break free of any attempt to control them? Stay informed and take advantage of market opportunities.
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