The last few months haven’t been exactly a smooth ride for Bitcoin and the larger crypto market. However, the market seems to be on a serious recovery mood at the moment, with Bitcoin leading the charge. In fact, according to a tweet quoting a Reddit post, Bitcoin seems to have already recovered from the sharp dip of late 2018.
Bears Have Retreated
About 6 months ago in November 2018, Bitcoin took a nosedive. Things got so bad that a lot of people called crypto winter. Since then, the crypto market has been largely on ice until something happened barely 3 weeks ago. The bulls stirred to wake and the bears went off.
At the opening of the week, Bitcoin was just recovering from a small slump caused by the negative news after crypto exchange Bitfinex emerged. Within a few days, the crypto has added some good percentages to its price. At the moment, Bitcoin is already clocking $6,800 and is expected to gain some more.
Contributing to the twitter thread, a user opined that Bitcoin’s impressive recovery is bound to attract even more investors into the market. The fact that there are now many institutional investors dipping toes into the crypto business supports that opinion.