The bitcoin price fell to just over $30,000 per bitcoin this week before rebounding thanks to El Salvador’s plans to adopt bitcoin as its official currency alongside the U.S.
Bitcoin’s dominance may need to return to over 50% before the bull market returns, according to JPMorgan’s analysis.
“With that said, corrections of this magnitude are common and should be expected.
I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.