Bitcoin regained the $7,000 mark, hitting an eight-month high

After more than a year of bleak bear market, Bitcoin ushered in a reversal this year. Since February, Bitcoin has ushered in a three-month continuous rise. In the last 11 days, it has ushered in 11 consecutive years, creating the longest consecutive increase period since 2017. As of 9:45 am on the 12th, Bitcoin reported 7160.00 US dollars, up 9.41%. This is also the second time since September 2018 that Bitcoin has regained the $7,000 mark.

Bitcoin fell to $3,100 in December 2018. Bitcoin prices have doubled since February of this year, making it the best performing asset on a global scale. Other cryptocurrencies also followed Bitcoin: Ethereum, Bitcoin cash, Litecoin and EOS all achieved double-digit growth in the past 24 hours.

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Why is Bitcoin so strong this year? More than 20% of institutional investors already own digital assets because of the increase in users. It can be said that the biggest battle of Bitcoin is to let people use it. Whether as a value store or a medium of exchange, digital assets are striving for attention, especially from institutional investors. According to the recent Fidelity survey, this situation is slowly changing: Nearly half of institutional investors believe that digital assets can play a role in their portfolios, while 22% of institutional investors already have some form of digital currency. The author believes that bitcoin can be a big fire because the bitcoin's hedging role is valued. (The internet)

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