WILL BITCOIN RECOVER?

[ambar33n]

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.

[laiya94]

I think it will recover soon because there are so many good news yet to come. The major one is ETF approval so let's wait until AUG.