It’s hard to imagine that there’s a Bitcoin market that has not experienced a major price correction over the past few months.
That was certainly the case in November, when Bitcoin fell below $600 for the first time in history.
On Wednesday, the digital currency is back in the black again, as investors took to the cryptocurrency markets to purchase their daily allotment of Bitcoin Cash, or BCCs.
The most recent correction occurred on Wednesday, when bitcoin was trading at just over $680, with BCCs trading at $570.
On Tuesday, the Bitcoin price dipped below $700 and remained below $580 overnight.
While it’s unclear what’s behind the recent surge in Bitcoin prices, some analysts believe that a growing awareness of the digital cryptocurrency could be a key factor.
The recent price increases in Bitcoin, according to analysts, are a sign that Bitcoin is becoming a more mainstream digital currency.
Some speculate that Bitcoin’s current price fluctuations could be caused by the increasing acceptance of the cryptocurrency by consumers.
“I think that a lot of the demand for the digital currencies is because of that,” Jonathan Zittrain, chief investment officer at Zittri Partners, told CNBC.
“Because of the attention, there’s an expectation for people to buy Bitcoin.
People want to make a quick transaction to buy something, and they’re willing to pay a lot less.”
Zittrain says that many people are already buying Bitcoin because of the increasing popularity of the virtual currency.
“It’s just a matter of people seeing it in their local stores, and maybe it’s something they need to get out of their comfort zone and take it for a spin,” he added.
Bitcoin has seen a rapid growth in recent months, thanks to its rapidly growing popularity among investors, and the fact that it can be exchanged for cash in almost any country.
It’s also made its way into other popular financial services like the stock market, as well.
Bitcoin Cash, on the other hand, has been around for a little more than a year, but the cryptocurrency’s value has continued to rise.
It has since been trading above $800 for the past three months, according of CoinMarketCap, while the value of BCCs has risen by more than 30 percent over the same period.
It’s not just Bitcoin, however, that is benefiting from the price spikes.
Zittre said that the bitcoin and BCC market is also seeing a surge in interest in cryptocurrency.
The cryptocurrency market, Zittra said, is not only about its current value, but also its potential value in the future.
“People are investing in Bitcoin because it’s cheap.
They’re investing in the blockchain technology.
And then they’re investing into the Bitcoin Cash,” he said.
“And now, they’re looking at the next thing.
That’s why they’re spending money on these assets.
People are investing because they think Bitcoin Cash can be a great thing, and then they see the blockchain, which is a new way of doing things, and that’s the real future.”
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