Positive regulatory sentiment regarding cryptocurrency from central bankers and finance ministers at the Argentinian G20 summit has sent the price of Bitcoin rocketing back up to $9,000 USD but the big question on everyone’s mind is – will it last?

There is no doubt that block-chain technology is revolutionizing the world, bringing with it both challenges and opportunities. It is no wonder that cryptocurrency and the technology underpinning it are firmly under the political and economic spotlight.

Whilst no specific action or direction was imposed on cryptocurrency by the gathering of world leaders, a July deadline has been put forward, allowing G20 representatives to consider further course of action regarding global regulation.

Regulation of cryptocurrency in our opinion is a good thing which will pave the way for a more secure, reliable and accessible market. This will undeniably open the door to institutional investors and will allow for further adoption among financial institutions to take place.

Bitcoin still remains in a bearish downtrend but as positive sentiment continues to return to the cryptocurrency market, we anticipate that we will continue to see a firm Bitcoin recovery over the months ahead.