Bitcoin’s price hit $46,767 Wednesday, the highest point the cryptocurrency has reached since May 16, according to data from Coindesk.
Bitcoin’s price has mostly stayed above $40,000 over the past week. The price swing is a reverse of the downward trend Bitcoin investors have seen following a high of over $60,000 in April. As recently as July 21, Bitcoin fell below $30,000.
But given the crypto’s history of volatility, this increase doesn’t guarantee a long-term reversal. Bitcoin’s price is just as likely to fall back down as it is to continue climbing. The price swings are going to keep happening, and experts say they’re something long-term crypto investors will have to continue dealing with.
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