After an incredibly prolonged period in the $3k range, bitcoin has finally broken through the barrier and returned to $4k territory, with a value of $4087 USD and a 24h increase of 1.04% at the time of writing. The strength of the market has been building slowly but steadily over the last month, and it is extremely encouraging to see the main coin reach this new level.
Although it has taken time to get there, it is a welcome positive sign for the cryptoeconomy, which needs to find stability and restore trust. One way this can happen is with steady, sustainable growth rather reflecting a more mature, settled market rather than the rollercoaster ride that we have witnessed over the past couple of years.
If Bitcoin can maintain its single digit growth and slowly creep towards $5k as the next milestone, it could really start to be taken seriously once again as a legitimate contender to established currencies.
Despite the rocky road it has had over the last 24 months, there are also welcome signs elsewhere that the time for cryptocurrency to establish itself in the mainstream is coming. The announcement today that Swiss e-commerce giant Digitec Galaxus AG, the biggest online retailer in Switzerland, will be allowing to pay for their purchases with Bitcoin (BTC) and a significant number of altcoins is a major endorsement for the cryptoeconomy and others will no doubt be keen to follow their example.
All things considered, it appears that cryptocurrency is well and truly on the rebound – here’s to that!