A few weeks ago bitcoin hit a low of nearly R79 000 ($6600) — a drop of a massive 70% from its all-time high of R302 000 ($20,000) in December.
This week though, the price of bitcoin rocketed by 16% in just a 30-minute window as big-time investors swooped in to buy the low-priced cryptocurrency.
In the past few weeks, many wealthy investors have begun investing in cryptocurrency, including George Soros, the fund that manages money for the Rockefeller family, and other well-known names.
With the implementation of new capabilities like the Lightning Network only months away, bitcoin could be poised for a massive increase once again.
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