Bitcoin price: CoinDesk boss says bitcoin likely to remain STRONGEST player in crypto

Bitcoin has survived a tough winter after banks and officials faced calls to regulate cryptocurrencies which saw its worth fall down from a $20k high to $9k.

The digital currency has faced criticism by finance experts, with Banking giant Morgan Stanley likening the current market climate of bitcoin to the dot-com bubble that, during its most “exuberant” period, rose by 250 to 280 percent.

The CoinDesk expert told Express.co.uk that despite the slumps in its value and the regulatory crackdown, bitcoin is likely to hold a significant role on the crypto scene.

Mr Bauerle said: "Bitcoin is the alpha and the omega of cryptocurrencies since the beginning.

"It's where all the ideas come from originally. And it remains the strongest, most secure, longest-running blockchain in the world and that will not likely change."

Bitcoin price was at $9,325.8 at 13:40 (BST) on Friday, April 27. It saw its highest value before Christmas when it reached the monumental price of just under $20,000.

The Foundation for Defence of Democracies found through a recent survey that bitcoin is stepping away from its negative reputation of attracting criminals.

The think tank discovered “less than one percent” of identifiable transactions between 2013 and 2016 were from illegal sources.