As many of you would have noticed bitcoin going up on the rise once again, but will it ever grow to the extent is has previously? Since 2018 there hasn’t been much activity around bitcoin, it was pretty much hovering around $3000-£4000 for the majority of the time, it wasn’t till March of 2019 where bitcoin finally had a small boost and it has only been going up from there.
Personally it think there is a very good chance of bitcoin reaching it once former glory however I don’t it it maximum value will be surpassed, I think people will be much more wary of bitcoin this time and it won’t gain as much popularity as last time because people will be worried incase we have another crash. Another market crash though isn’t necessarily a bad thing because if it can be revived twice surely it could be revived a third time meaning a market crash would be a great time to invest for when it goes back on the rise.
If bitcoin can recover is will mostly likely increase all the other cryptocurrencies around us too since there follow pretty closely to bitcoin, this would be great for Steemit as it Might bring back some older users as well as attract new ones.
In conclusion I do think bitcoin will recover to an extent but I don’t think it will surpass it record value mainly because some people will be too scared to invest. I also think it will probably crash again but maybe not so severely I feel like this will start to become a pattern within cryptocurrencies.
Do you think Bitcoin and other cryptocurrencies will ever fully recover? Share your thought below.