Last weekend, the price of Bitcoin raised past $8,000, leaving everyone in absolute surprise. Since the rise to its best price in December 2017, the people have always called Bitcoin market as a bubble which will burst (lose its popularity and value) at any time. But the coin has sustained everything, even falling to its all-time low value at the end of 2018 too.
Now again the value of Bitcoin is improving, although it hasn’t reached its highest value the coin has made pretty impressive progress. The cryptocurrency enthusiasts started mocking the ones who called BTC a bubble on twitter.
The cryptocurrency and blockchain technology market still has a long way to go. Bakkt, a renowned cryptocurrency exchange platform has still not received the approval from US regulatory exchange. They have already announced the launch of the platform in July 2019, but the approval date is still unclear.
Brave website is still not in the top ten best browsers list and has only some cryptocurrency advertisers. Most of the investors of Ripple say that they are just experimenting by investing in the cryptocurrency. The people who show genuine interest in the industry and want something to change are lacking. IBM has brought some blockchain solutions, but they are not pretty effective. There are some companies like Factom showing interest in cryptocurrency, but they are mostly small startups.
The users can’t even buy a coffee with BTC without paying a hefty tax amount. The support for Bitcoin by the companies, regulatory bodies, and government are not steady and reliable yet. But the one thing that is for sure is that the bubble of BTC will never burst.