On this morning today of March 9, Bitcoin traded at $41,614.95, up 7.40% from the last 24 hours. Following the rise in price of Bitcoin, the global cryptocurrency bounced back after falling in the red. There are 6 of the top 10 popular coins that have increased in price in the last 24 hours. With the top 100, up to 67 has increased in price in the last 24 hours. Zcash was the biggest gainer in the market, up 16.3% while Thorchain dropped the most with 5.52% in the last 24 hours.
However, with the current unstable political environment, many analysts suggest that Bitcoin’s losing streak is still likely to continue. Bitcoin price could drop as low as $28,000. On the other hand, Bill Miller, a billionaire as well as a veteran investor, is very optimistic about the future of Bitcoin in particular and the crypto market in general. Miller has been investing in Bitcoin for a long time and he is also a staunch supporter of this coin. In February, the billionaire said that he believes in the future of Bitcoin. With him, Bitcoin is insurance against financial catastrophe and he still owns a lot of it.