The Bitcoin price had struggled to regain its bullish momentum after a sharp decline earlier this month, when it plunged to $49,000.
On Wednesday, the largest cryptocurrency by market capitalization reached a trading price of $58,700, but concerns about another potential crash, reminiscent of the drop on August 5, continue to loom over investors.
Bitcoin experts, however, predict that the cryptocurrency could hit $100,000 in just three months, citing key indicators.
