Given the recent growth in the Bitcoin market and extended volatility with Litecoin, there has been renewed interest and speculation on the future of the cryptocurrency market. Over the last weeks the Bitcoin price has been rising and hit £200 per BTC over the weekend, with many speculating that the price rise is due to an influx of Greek money on the cryptocurrency market.
Despite this, Bitcoin is still in it’s infancy and as such patterns are incredibly tough to predict with the cryptocurrency. The just-announced resolution to the Greek crisis is believed to have brought about an end to the rising prices, but nobody claims to be certain that the rise in Bitcoin price is directly linked to the issues with Greece. A number of exchanges noted an increase in EUR/BTC purchases from within Greece but this could simply be down to the deals offered by exchanges to encourage such use. Some projections anticipate that the Bitcoin price could return to as much as $400 per BTC but the future of the cryptocurrency remains uncertain.
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