Bitcoin appears to have finally started its correction from a rally which has added almost 270% to its price since the beginning of the year. The big names in mainstream media are dedicating larger slots to BTC and its brethren as the crypto winter has thawed. In a recent Bloomberg opinion piece the outlet finally admitted that crypto is here to stay.
The obvious question is this: If Bitcoin was just a bubble to begin with, why has it been bouncing back in this manner? The answer is that cryptocurrencies, in some form or another, are probably here to stay.
The report goes on to surmise that the recent US China trade war may have had something to do with bitcoin’s epic but volatile run over the past couple of months. Adding that China will not liberalize and continues with its capital controls, these may be factors driving people to use bitcoin, which is still technically banned in the People’s Republic.