Bitcoin has not had the best start to 2018, despite skyrocketing at the end of last year. Whilst many might have lost their faith in the virtual currency, many experts believed that we were going to see a great performance from the biggest online currency in the world, and it seems that they might be onto something, as for the first time in a long while, Bitcoin has moved back above $9,000, an increase in value that many cryptocurrencies have seen.
This recent rise in price comes at the same time as global equities moved higher, with US stock futures already on the rise, ahead of important data on inflation, which is de to be released at a later date. Over the past few months, Bitcoin and global equities have developed a correlation, so when one rises, the other one tends to as well, so this increase could have been predicted when looking at these figures.
On Monday, a single Bitcoin was trading below $9,000, but as of today, it has increased by 2.8% and is now trading at $9,356.03. One of the reasons that some cryptocurrencies have been suffering of late, is due to regulatory concerns, especially after a warning just last week from the Securities and Exchange Commission over crypto trading platforms.
Bitcoin was not the only cryptocurrency to see increases, Ether was up 1.7% at $711.39, Bitcoin Cash saw an increase of 2.5% at $1,083.57, Litecoin was up 0.8% at $180.42, and Ripple was trading at $0.80.
Only time will tell what is next for one of the most volatile virtual currencies of all times, but right now, Bitcoin is performing very well indeed, and experts have predicted that this is a great time to invest and to make money from the currency.