There are lots of speculations surrounding the news that Bitcoin might again regain its sporadic spike as it did some weeks back. The reason for these predictions is based on the recent clap backs between China and the United States, some analysts believe that the clapback might affect some institutional exchange and transactions between the two countries, and that this might make a lot of businesses and foreign traders to fall back to bitcoin.
A prediction of such isn’t really strange when it comes to the cryptocurrency market, bitcoin in the past has boomed as a result of some critical events and major political clashes and even during tragic events like war, earthquakes etc. And this new clash between China and the United States might not be an exception.
Major financial institutions in both nations are already considering bitcoin as the only pathway to transact without having issues with any new policy made by any of the countries, Foreign traders are also not left out, as they have started acquiring some of the coins for their various exchanges, to avoid the market crash that might affect trading between the two countries.
If the number of those investing in bitcoin should rise as predicted, there is no doubt that the price of the coin would also rise to meet up with the general demand and supply rule. With these predictions, bitcoin holders should get ready for an interesting weekend that might yet again shake the cryptocurrency market, and compound the profits that investors have gathered in the past few weeks.