There are recent, positive signs that may be indicative of Bitcoin’s status. Now trading at $547.40 on Bitfinex, the price has leaped to 21.4% in just four days. The price also represents a 21-month high. It comes as a bit of a surprise that bitcoin prices have remained stable for the past two months prior to the weekend’s jump.
Bitcoin’s price variations have correlated with China’s macroeconomic trends. The digital asset is perceived as an alternative asset class for many in China. Lenders have been forced to invest in bitcoins after the Chinese government cloud cracked down on P2P lending. It is expected that many Bitcoin Core updates in the coming months are going to make bitcoin more future proof and robust.
