Have you ever owned an older car that wasn’t very reliable?
I know I have and I can tell you firsthand that it added an unnecessary amount of stress to my life until I finally took it into the shop for repairs.
Before then, every time I climbed into the driver’s seat it was a gamble to see if the thing would even start or not.
In a lot of ways, Bitcoin is no different. It’s been clunking along in the market, breaking down at times and starting back up at others, but never really getting the maintenance that it needed. Until recently…
As I write this, Bitcoin’s price has shot up $750 in a single hour!
I’ll tell you how and why the future for cryptocurrency is starting to look more promising than ever.
For the first time in over a month, Bitcoin has exceeded $7,000, jumping from $6,791 to $7,428.
That’s close to a 10% increase! You don’t even need to crunch the numbers though. The chart below says it all.
As you can see, this is a HUGE gain for Bitcoin. This spike effectively adds $9 billion to the currency’s market cap.
So, what caused this massive uptrend to take place in a matter of minutes?
Although it’s all speculative, one explanation is the recent support the crypto coin received from Goldman Sachs. The company recently announced expanding the availability of its current Bitcoin services.
On top of that, the Financial Stability Board openly stated that cryptocurrencies “do not pose a material risk to global financial stability”.
This type of news drives activity towards the market and share prices tend to fluctuate accordingly.
It’s almost as if Bitcoin’s hood was popped open and its engine was tweaked enough to get it running again.
People are being reassured that Bitcoin is here to stay and encouraged not to give up on the currency just yet, despite the volatility its experienced in the past.
Don’t forget that less than a year ago this crypto giant wore a price tag close to $20,000!
Days like today give hope that the digital currency will generate enough momentum to get rolling back up to where it once stood in December.
The gradual support that Bitcoin is slowly but surely attaining has a direct impact on cryptocurrency as a whole and the future appears to be promising.
As for now, Bitcoin’s engine seems to be running smooth, which presents a perfect opportunity for YOU to earn some cash from crypto.
