It seems there is no reason for panic any more now that bitcoin successfully bottomed out. In other words, it plummeted to its lowest possible level to be set for growth again. The world’s leading cryptocurrency slumped to a low of $5,900 on February 12 only to resume its uptrend.
As we all now, getting back to persistent growth might take a while, yet bitcoin may well be better than this. It is likely to move upwards fast as it has not gone below $10,000 since February 16, whereas its latest high was at $11,500. Bitcoin was tacitly backed by the Securities and Exchange Commission. Speaking at Congress at the break of February, the US officials pushed for regulation of the cryptocurrency market, yet accepting bitcoin as mainstream in the financial world; otherwise, it might have been sent far lower. In late January - early February bitcoin was cheapening amid talks of possible regulations to be imposed on the cryptocurrency market in China and South Korea. In December 2017, the top cryptocurrency hit an all-time high of nearly $20,000.
