Bitcoin again jumped over 6,000 USD and gave some relief to investors

July 2, 2018 1:24 pmComments Off on Bitcoin again jumped over 6,000 USD and gave some relief to investorsViews: 27

Bitcoin priceThe weekend gave a breath to the Bitcoin investors. The price of leading cryptocurrency rose by 8% to 6,374.84 USD in the beginning of the week, after falling below 6,000 USD on Friday.

Despite the rise in the digital currency, the Bitcoin lost about two-thirds of its value after reaching a record 20,000 USD in December.

The increase gives a small pause of the free fall of the digital currency, which lasts for most of 2018. It follows the growth of over 1,400 percent last year. The blockchain-based currency, which is designed to use cryptographic, was established after the financial crisis in 2018 and cost only 0.30 USD at the end of 2010.

Although it is difficult to determine which are the catalysts of the decline of the Bitcoin, the bursting of a speculative bubble may be the main reason for this, amid growing doubts about the viability of the virtual currency in the long run and price manipulation.

The confidence in cryptocurrencies has been put under pressure this year due to hacker attacks in Japan, South Korea and other countries that raise many security issues.

At the same time, central banks and other regulators around the world have warned of the possibility of losing investors and of the dangers of fraud.

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