Breaking news for all Bitcoin investors, traders and enthusiasts as the flagship cryptocurrency is back in the $40,000 region. After a near-catastrophic price crash observed several days ago, Bitcoin was seen to struggle in rising as high as $40,000.
However, the top cryptocurrency is now back in the region, currently standing at $40,368 (at the time of writing).
Due to major correction in BTC’s price in the last few days, many crypto enthusiasts and short-term investors were concerned regarding a possible surge in the crypto’s price. Meanwhile, Bitcoin Whales and other major companies invested in the digital asset and accumulated more, which indicated Bitcoin’s comeback.
Despite the belief of novice crypto investors, Bitcoin is anticipated to rise higher, which is promising news for BTC investors and traders. This is also a suitable time for potential investors to purchase Bitcoin by using reliable exchanges. Novice parties who have no prior experience or relevant information of the crypto market can use SwissBorg exchange or Kraken to invest in Bitcoin.
The Ups and Downs of BTC’s Price
Following the massive decline in Bitcoin’s price witnessed on May 19th, the crypto asset was seen to recover quickly, to some extent. However, the price of BTC dropped once again within the same week due to controversies with a top Chinese regulator.
Here is a graph of Bitcoin’s price by CoinGecko that shows the ups and downs of the crypto’s price in the last several days.
According to reports, the price of Bitcoin has increased more than 30% since its low point, noted on May 23rd.
What is the Impact of BTC’s Price on Investors and Traders?
Despite the huge drop in Bitcoin’s price, the flagship digital currency has climbed its way back up to the $40,000 region. It was observed that the cryptocurrency initially had some trouble reclaiming this position after the steep correction witnessed last week.
However, to the delight of BTC enthusiasts and investors, the cryptocurrency is anticipated to surge higher than its current price ($40,368, at the time of writing).
Bitcoin is the largest cryptocurrency in the market that has retained its position despite occasional fluctuations in price. Therefore, if you are a beginner, interested in stepping into the crypto space then it is suitable that you use secure bitcoin exchanges and invest in the top crypto asset, Bitcoin.
SwissBorg and Kraken are two of the top crypto exchanges in the market that are suitable for beginners and experts alike. People looking to start crypto trading should also be careful while choosing an exchange and opt for ByBit, which offers an excellent experience of trading Bitcoin.
On the other hand, if you are interested in trading but have a tight schedule, you can opt for copy-trading and use PrimeXBT Covesting.