The bitcoin price fell free, losing nearly $ 14,000 in value since the peak of 2017. But while cryptocurrency hovered around this year's lows, a new $ 300 million fund dedicated to the crypto market has given investors fresh optimism. The cryptocurrency market was further encouraged this week by news that Facebook reversed its decision to ban ads for bitcoins and other virtual currencies.
This move once again sparked rumors that Facebook is planning a major acquisition in space, or even potentially cryptocurrency itself. Facebook CEO Mark Zuckerberg said in early 2018 that he plans to "go deeper" with cryptocurrency technology - which offers more than 2 billion users worldwide - launched the blockchain exploration group. Other analysts said that the lifting of Facebook's ban will help reverse the price trend of bitcoin and other cryptocurrencies.
"The crypto market has been in bear territory over the last week or so," Nigel Green, founder and CEO of financial services firm deVere Group, said in a statement to The Independent.
"Facebook's step can be expected to help take it back towards the bulls... Savvy investors are looking at the bigger picture."
Looking at the 12-month price history of bitcoin, the cryptocurrency's current value still represents a 260 per cent increase year-on-year.
This move once again sparked rumors that Facebook is planning a major acquisition in space, or even potentially cryptocurrency itself. Facebook CEO Mark Zuckerberg said in early 2018 that he plans to "go deeper" with cryptocurrency technology - which offers more than 2 billion users worldwide - launched the blockchain exploration group. Other analysts said that the lifting of Facebook's ban will help reverse the price trend of bitcoin and other cryptocurrencies.
"The crypto market has been in bear territory over the last week or so," Nigel Green, founder and CEO of financial services firm deVere Group, said in a statement to The Independent.
"Facebook's step can be expected to help take it back towards the bulls... Savvy investors are looking at the bigger picture."
Looking at the 12-month price history of bitcoin, the cryptocurrency's current value still represents a 260 per cent increase year-on-year.
Maybe, this is one of the main factors which has caused the rise of bitcoin prices a few days ago.
Rumors about Facebook that will issue its own coins crypto, actually have been talked about a lot in some media since three months ago however we don't know exactly when Facebook will launch it.
Surely BTC will recover because it has the potential to recover.Due to many reasons it suffers from a major downfall which will affect the overall growth of BTC. Bitcoin is one of the important cryptocurrency and it has the capability to grow in coming future.It is already recovering.From last month the prices are rising and hopefully by the end of this year it will reach 10k. A major recovery is expected in 2019.
That's right, and I believe bitcoin always has the potential to recover, because its predicate as the best coin, absolute has been owned by bitcoin.
