Bitcoin Rally: Cryptocurrency Makes a Comeback After Major Slump

Bitcoin Rally

Many in the financial world this week were claiming Bitcoin was “dead” after it hit its 2018 record lows this week. What they didn’t predict was a Bitcoin rally. On Sunday, the world’s first digital currency hit just above $3,600 a coin, which is the coin’s record-low this year.

Bitcoin hadn’t seen below $3,700 since mid-September 2017, and this past week, the cryptocurrency was down almost -40% for the month. However, on Tuesday night that all began to shift.

Bitcoin Rally

In around 60 minutes, Bitcoin jumped up in price over $200. While this isn’t the monumental rise it had on a daily basis in late-2017, the jump shows a positive trend. Major sells-offs began when the miners behind Bitcoin Cash started a civil war. The digital currency was set for its semi-annual upgrade and was split into two competing digital currencies after its hard fork.

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