Bitcoin Is Doing Well, but Barricades Could Get Bigger

Bitcoin has shot past the $9,000 mark once again, but it’s still facing heavy resistance.

Bitcoin Is Doing Better, but It’s Still Struggling

The number one cryptocurrency by market cap has been struggling as of late thanks to rising fears of the coronavirus, which has spread throughout most of Asia, as well as parts of Europe and North America. More than 2,000 deaths have been recorded thus far, while tens of thousands of other individuals remain infected at the time of writing.

The currency fell from over $10,000 to the mid-$8,000 range within a week but has since begun springing to life again. While it has yet to recover fully, the currency has begun to advance into the low $9,000 range thanks, in part, to India’s removal of its two-year long crypto ban, and the implementation of a new digital currency law in South Korea that will potentially make crypto activity far more legitimate and mainstream.

India’s ban allowed users to continue trading digital currencies. However, it…