After long, the world’s most popular cryptocurrency, Bitcoin seems to come back. The ‘currency of people’ has achieved more than 1.54 percent within a week and stabilized at the price of $9,000.

The cryptocurrency is up by 50 percent from the recent lows that is a good sign for Bitcoin enthusiasts.

Major Cryptocurrencies’ 7d Performance 

 

Cryptocurrency

Price (in US Dollars)

7d Change (%)

Bitcoin

9158.81

1.54

Ethereum

682.70

8.97

Ripple

0.84

4.46

 

Will cryptocurrency reach a new milestone and beat old high? According to some experts, there are three factors that will support the Bitcoin.

Firstly, the high adoption rates of Bitcoin as an exchange medium and store value, these are two functions that are common in the conventional currencies.

In turn, it will be a good security infrastructure. The CEO and President of BlockStar, Christian Ferri says, “According to my assumption, Bitcoin will be utilized as store-of-value (for instance – digital gold), a good security infra all-encompassing the complete cryptocurrency sphere will be required for people in order to place trust in the latest financial system and begin utilizing it.” He added, “The moment it happens, numerous people will jump into this, hence the scalable infra would be critical.”

Better security infra will surely help Bitcoin to improve the function as value store, it will not improve the function as exchange medium. What will? The enhancements done in protocol will stabilize the everyday value of Bitcoin. Ferri said, “If new improvements have been made to the protocol in order to permit Bitcoin of becoming a day-to-day transactions (purchase your Latte via Bitcoin) medium, then we will require a stable mechanism that is based majorly on scalability and security. In such a way, the Latte will not cost USD 5 today and USD 50 tomorrow.”