BITCOIN is bouncing back after a massive crash in recent days, with some experts especially bullish on its potential.
Some experts think the cryptocurrency could hit a target value of $100,000 despite Bitcoin‘s recent vulnerability and the doubt now surrounding it.
Hong Fang, the CEO of cryptocurrency exchange OKCoin, recently told CNBC: “I still believe that the 100,000 price point is reasonable.
She added: “The timing can be a bit elusive because we are at the mercy of market dynamics.”
Fang didn’t give a specific date on when she thinks the Bitcoin price will surge to the $100,000 mark.
Goldman Sachs previously suggested that Bitcoin could reach the staggering value this year.
Bitcoin’s recovery has also seen it pull away from the dreaded “death cross” — an investor indicator that can spell disaster.
Read our Bitcoin live blog for the latest news and updates…
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What is a blockchain?
A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit.
This ledger is the foundation of any cryptocurrency transaction.
The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.
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El Salvador adopts Bitcoin, continued
However, those who do not have access to technologies that can carry out Bitcoin are excluded from being required to accept it.
The US dollar and Bitcoin are now the country’s official currencies.
It’s the first time Bitcoin has been adopted as a legal…
