Kevin O’Leary, recently statedthat Bitcoin is a “Digital Game” and it is “Worthless.” Bitcoin touched upuntil $8,000 before it gave up on some of its gains.

He explained that the receiver ofthis cryptocurrency is looking at some value by stating, "You have tohedge the risk of bitcoin somehow. That means it's not a real currency. Thatmeans the receiver is not willing to take the risk of the volatility it has.It's worthless."

He also remarked about how hebrought cryptocurrency for $100, and it is now worth only $30 amounting to 70%loss.

A calm is now following the sharprise of Bitcoin. The overallcryptocurrency market has been consolidating gains in their newly foundranges. Bitcoin touched until $8,337 andretraced to $8,000 on Tuesday. ETH madeit to $219.45 and retraced down to $222.16.

There is an increase in hungerfor a store of value. Investors arelooking at non-dollar resources to protect their wealth. Since Bitcoin is beingpaired up with Altcoins is several exchanges, both of these crypto assets havea complex relationship with each other. This is indeed a complicated relationship: the Bitcoin and the Altcoin raiseand fall in correlation with each other. The sooner Bitcoin rose significantly; the Altcoins fell in their ratio.

The early stages of the bullmarket have now started after the longest ever bear market recorded in thecryptocurrency market. If the Altcoinsas well raise in correlation with the Bitcoin, we can be sure that the bullishtrends have set in.

The magnitude of the price raiseshas correlated with the parabolic price rise for digital assets. Institutional interest in the cryptocurrencymarket has provided for the improved momentum.

Steven Quirk, recently stated, “As soon as you open the door, you’re going to get a lot of people looking to participate in the market.” 

Investors were able to see 600% gains after the bearish momentum eased up.  Before every new increase, the Bitcoin has been testing its support level. Downside corrections set in before each new rise.

Thomas Lee stated that Bitcoin holding above the 200-day moving average is a clear bullish sign.  The bears are biting the dust.  Fundamentals and techniques are improving.  The activity by HODLers is increasing according to OTC brokers who facilitate institutional investors. Cryptocurrency continues to sustain its face value as a lucrative investment option. 

McAfee advises investors to stop Binge watching the Bitcoin price boom.