Bitcoin value bounces back by nearly $1,000 after the big drop last week. The cryptocurrency fell as low as $2,951.15 but now is over 4000$ again. The recent fall was triggered by many factors. Some giant bitcoin exchanges in China proclaimed plans to shut by the end of September as China cracked down on digital currencies and prohibited any new initial coin offerings as some way of raising funds.
The bitcoin market is recovering as a result of investors who survived the initial shock and realized that China is not dominating the market, but a lot of the market volume has been transferred to Hong Kong.
Some analysts say that the bitcoin crisis is over and in the recent future, it would rise to its record value and even above that. The prognosis is that in the next week it will reach $4200 – $4300 and it will steadily rase.