Bitcoin’s price and market cap nearly halved on 12 March amid the COVID-19 pandemic, but merely days after the massive loss, Bitcoin seems on its way to recovery.
As of 19 March 2020 – just a week after the massive crash – Bitcoin recovered about 18% of its value with its price shooting up to $6,250 and closing at $6,191.19.
Despite worries that Bitcoin’s revival may be short-lived, Messari researcher Ryan Watkins believes that the movement a signal that Bitcoin is far from dead.
Last week was sobering for Bitcoin investors, with BTC sinking more than 50% in 1 day amidst a global liquidity crunch.— Ryan Watkins (@RyanWatkins_) March 19, 2020
But #Bitcoin is far from dead.
Bitcoin offers investors a potential 100x price increase from today's levels, if Bitcoin were to ever reach gold.