It goes without saying that Bitcoin
prices have taken a beating over the past 6 months. Good news appears to be on
the horizon with an incoming bullrun.
With market forces working to correct the prices we take a look
behind the scenes to determine what is driving this sudden surge in prices of
1. Bitcoin Prices Have
Finally Bottomed Out
The bottom refers to a period where the price of a market commodity or
financial security hits its lowest valuation. In 2017 having hit a peak of
nearly US$20000 per Bitcoin, prices of Bitcoin began to fall as the market
worked to correct itself.
Having hit US$3150 in April; the lowest since 2017, the consensus
among most analysts is that Bitcoin prices have finally bottomed out. Following
this, investors have begun snapping up Bitcoins in a bid to speculate on an
increase in valuation.
Hence, looking at the data from April 2019 onwards, it is safe to say that market
sentiment is on the uptake with an exponential increase in prices. At the time
writing, prices have surged to highs of…