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Bitcoin stages comeback in Cryptocurrency scene with a 25 percent rise in value

Alan Muli

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Tuesday 18th December 2018 marked three days since Bitcoin staged its comeback to the cryptocurrency scene with a 25 percent rise in value. Bitcoin showed remarkable resilience to fight back and stand strong considering the tough year it has had. The news caught crypto-enthusiasts by surprise and silenced harsh critiques who opined that Bitcoin was on its deathbed.

The reaction was immediate with crypto-enthusiasts rushing to social media to express their excitement. Twitter, in particular, was buzzing as crypto-enthusiasts could not hide their excitement about the prospect of a turn in the tide in Bitcoin’s fortunes. The comeback will see the cryptocurrency giant attract more users and will consolidate the faith that existing users have put on the coin. Analysts are still warning of a possible slump and have cautioned the cryptocurrency faithful not to get carried away.

Mixed reactions

The slight turn in fortunes does not certainly portend a bright future for Bitcoin. Analysts were quick to raise concerns about Bitcoin’s inability to go back to its previous glory. The turbulent period that the coin has had in recent times will discourage many from investing in the coin regardless of the change in fortune.

According to reports, the recent 25% rise in the value of the coin is not a reliable indicator of what the future holds for Bitcoin. Analysts opined that the value had to get to the full percentage from its low point for it to be considered safe.

Crypto-analysts across the globe seem to be reading from the same page as they advocate for caution before investing in the coin. Bitcoin remains to be a highly volatile digital asset which is still struggling with regulation. Investing blindly on the coin may lead to the incurrence of major losses. It is hard to predict what the future holds for the coin, but the recent turn in fortunes may just be the first step towards resurgence.

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