The price of bitcoin has fallen nearly 60% since December. In recent months, regulators around the world have stepped up scrutiny of digital currencies and related assets, including some blockchain investments. However, some bitcoin bulls believe the digital currency can regain its peak of $20,000, last seen in December.
There is significant room for growth in the cryptocurrency universe. Recent data suggest a small amount of American investors own any digital currencies and, after bitcoin, the numbers of crypto ownership dwindle.
Bitcoin’s rally above $8,000 comes just a couple of weeks after the cryptocurrency committed a death cross, where its 200-day moving average fell below its 50-day line. The death cross is normally bearish, but it needs to be validated, something bitcoin did not do.
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