It’s often been said that investing in cryptocurrencies is not for the faint-hearted, and in the past few weeks this statement has been proven true. Bitcoin has been on a rollercoaster ride whose direction has been difficult, if not impossible, to predict. After hitting its yearly low just days ago, it showed signs of recovery to reclaim $4,000 and looked set to gain even further. However, the rally was short lived as the currency shed 7 percent today to trade at $3,750. The entire market saw a wave of red, with Bitcoin Cash and EOS experiencing double-digit losses.
Having dropped below $3,500, the lowest since August last year, Bitcoin fought back on Sunday to reclaim the elusive $4,000 level. The upward momentum was especially promising as it was on a weekend, with the 24-hour volume edging towards $7 billion. The new week seemed full of promise.