Bitcoin recovering back to $10,000, could attract new investors

Following its ‘dive and rise’ price patron in the past, Bitcoin price is recovering again and has crossed $10,000. This could be beginning of yet another great price surge which could attract new potential investors worldwide.

Bitcoin climbed back above $10,000 on Thursday after two weeks. The cryptocurrency had lost two-thirds of its value in a huge price nose dive from a record high above $19,000 in December last year and then falling to $6,000 last week.

Bitcoin seems to be on recovery path again and with investors putting money in, the price may well substantially rise in the coming days.

Source: CoinDesk, Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund.

“For most of December and all of January investors were focused on a regulatory crackdown, mostly in Asia,” said Brian Kelly, a CNBC contributor and head of BKCM, which runs a digital assets strategy for clients. “That all changed when CFTC Commissioner Giancarlo spoke at the Senate Banking Committee and changed the regulatory tone. It appears the negative regulatory news is behind us and investors feel more confident investing.”

Via: CNBC