Bitcoin price boost: BTC in major surge after horrendous week of plummeting prices | Wor…

The cryptocurrency claimed $600 (£460) in the space of a few hours to return to above $7000, having fallen to its lowest since May.

The price crashes had been a result of market uncertainty in China, which saw a further crackdown on illegal exchanges.

Despite the period of volatility some analysts are claiming now is the “perfect time” to invest”

Speaking to the Independent, Peter Wood CEO of online trading platform CoinBurp explained why:

“Once again the value of bitcoin has plummeted – due to the nature of cryptocurrency, this is not the first, nor will it be the last time this occurs,”

“However, new-time investors can be comforted by the fact that its value will most likely rise again, and newcomers to cryptocurrency should see no better opportunity that to invest now.”

Predictions of the value of the crypto currency are notoriously volatile its value fluctuating between $3000 and $20,000 over the last two years.

“While nobody really knows what direction the value of…