Cryptocurrency value

Bitcoin PRICE RISE: Cryptocurrency Value Sees MASSIVE 16% Increase in Just One Week | City & Business | Finance

Last Sunday, the digital currency was only worth $ 9,947 (£ 6,984), however, after a week of booming Bitcoin’s value has now risen to $ 8,116 (£ 5,698).

The sharp rise in prices could represent the start of the recovery in online currency prices, after experiencing a month of disappointing price declines.

On March 23, Bitcoin was worth $ 8,918 (£ 6,261) before its value fell to $ 6,620 (£ 4,648) on April 6.

While the rise in the value of Bitcoin over the past month may signal a return to wealth for money online, Bitcoin has already had false starts.

Cryptocurrencies have been characterized by large price swings due to a lack of regulation.

Since Bitcoin was first mined in 2009, virtual currency has seen its value skyrocket and hit a record high of over $ 17,000 (£ 12,000) in December 2017.

However, after the start of the year, the value of digital currency dropped dramatically.

Cryptocurrencies are believed to have seen their significant initial value drop following fears of the introduction of regulations.

South Korea introduced a series of measures in January aimed at regulating Bitcoin and similar currencies such as Ripple and Ethereum.

Meanwhile, India and Japan have also indicated a crackdown on digital currencies.

Cryptocurrency expert Thomas Lee, co-founder and head of research at Fundstrat, predicted that despite Bitcoin’s struggles in 2018, by the end of the year the commodity could be worth $ 25,000 ( £ 17,550).

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