Last year cryptocurrency traders were agonized when Bitcoin took a plunge. Bitcoin went on a rise of approximately 70% this month alone. This was a much anticipated come back. The fall last year was way more than the 70% growth that could it could reach now. The plunge last year had crypto traders scared and in awe at the unexpected misfortune.
The growth now could be because people are now starting to purchase and use Bitcoin more as it is widely accepted by most merchants. This creates a gap and demand for Bitcoin. Not everyone is pleased though as experts suspects it could rise way above its essential price and cause problems.
However, Bitcoin fans beg to differ. They remain positive because it is not the only cryptocurrency showing growth. Ripple and Lite coin are also on the rise. Many are certain that this bullish trend will continue and that even in the event that bitcoin reverses, it will find support in the $8,500 region.
On the 14th and 15th of June 2019, a two-day conference; Unchain will take place in Berlin. The event will be limited to 500 attendees consisting of Blockchain experts, tech developers, investors, industry executives and regulators. From over 20 countries, more than 30 founders and CEOs of leading Blockchain enterprises are expected to speak.
According to their website, the main goal of Unchain is to connect leading cryptocurrency and Blockchain entrepreneurs from all over the globe by discussing and exploring the full potential of a decentralized economy.
Bitcoin’s growth continue to indicate that it is a buy and hold investment. For someone who invested $1000 in Bitcoin in 2011, the return would be approximately $8m. Bitcoin traders should look to the Bitcoin Puzza story for motivation to hold and to avoid making the same mistake that Laszlo Hanyecz made.
Last week, analysts started advising people to stock up on Bitcoin because the upside was inevitable.