Major digital currencies lost as much as half to begin the year as growing regulations and security fears disabled the market, seeing dealers abandon their positions. However, the tide has turned.
The price of bitcoin has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington.
In a recent swing when Bitcoin price is heading above $10,000, an anonymous transaction of buying close to $400 million of the No.1 digital currency, bitcoin comes into light.
“Not sure who that big buyer was but many have bought this dip and have added since the rebound and additional regulatory clarity in the U.S. and Asia,” Alex Sunnarborg, Founding Partner of Tetras Capital said.