BY February Bitcoin reached an all -time high of $57,000 a and after that it had a sharp correction, thereby going downwards to $43,000 in eight days.
It is pertinent to mention that since, it went down, there some vestige of recovery and of which it is going up again to $54,000. The recovery of Bitcoin has seen the total market cap surpass $1 trillion, a level that it has gotten since February, 22.
Flowing from above, the news of Bitcoin recovery follows the suuccesive annoucment of some companies that have Bitcoin in their treasuries. These companies include Norwegian Multinational Aker ASA and Chinese App maker Meitu.
Also, together with retail adoption which has a widespread adoption, the institutional investment are preparing grounds for the next phase of $55, 000 and beyond, according to infomation made available to Decrypt by Jeane Deane, Bitcon analyst at Quantum Economics.