Was tax season squarely to blame for the recent extensive crypto market slump and will the sector therefore enjoy an immediate surge after tax day?
A bullish sentiment seems to have made it back into the cryptocurrency market with a major bitcoin bounce that has seen prices shoot up by 13.04% in the past 24 hours.
During a recent Ask me anything session with the Reddit bitcoin community, the former Mt. Gox CEO said that he no longer had faith in bitcoin but that the blockchain technology that underpins it is here to stay.
The co-founder of Bitcoin Foundation, Jon Matonis, has dismissed the bitcoin bubble theory. He says that bitcoin is in fact the pin destined to pop legacy market bubbles that are currently supported by central banks.
The latest bitcoin correction has seen it plunge to levels of almost $7,000 after a tough tug of war between the bears and the bulls. As at press time, one bitcoin was trading at $7,429 according to Coinmarketcap.