Bitcoin has bounced back above 9K after lingering in between 7-8K for few months and now. At the time of writing Bitcoin price is $9,015 and showing sign of ups and downs so no one can tell where its heading.
Some have suggested the China coronavirus emergency is behind bitcoin’s 5% rise today. Some claim the price hike is due to Dorsey – CEO of Square payment company making bold bet on Bitcoin. Dorsey has vowed to help bitcoin development through his payments company, Square—which said it’s “only a matter of time until instant, low-fee bitcoin payments are as common as cash used to be.”
“For bitcoin to become a widely used global currency—one that can’t be stopped, tampered with, or rigged in anyone’s favor—improvements to bitcoin’s [user experience], security, privacy, and scaling are required,” Square’s cryptocurrency division wrote in a blog post this week.