After dropping to a low of $1,836 this past Sunday,The Bitcoin price is clawing back toward its all-time high.

BITCOIN PRICE KEY HIGHLIGHTS
Bitcoin price recently staged a strong break past the descending channel formation.
Price has gobbled to its all-time highs and is showing enough momentum to go for new ones.
Applying the Fibonacci retrace tool on the latest swing low and high shows potential correction levels.
Japan recently helped bring Bitcoin into the mainstream by passing legislation that allows it to be accepted as a legal currency.

Why there is a Rise ??
Analysts reports that the recovery is largely due to the improve in bitcoin's technology, due to 'lock in' of a code upgrade called BIP 91 today. BIP 91 could upgrade the bitcoin's blockchain to support SegWit(segregated Witness), which will handle more transactions through the network while avoiding incompatibility problems.

Traders were spooked by fears that Bitcoin could be split. But the recovery has been helped after BIP 91, helped bridge the gap between bitcoin miners. The cryptocurrency has previously reached record highs of $3,000 but some analysts have predicted the rally could go much further.

Bitcoin scalability: As the Digital Currency has grown more popular, transactions has become slower and more costly, with some trades lasting days.

BIP 91(SegWit), could also help Bitcoin scale its blockchain, a record of all past transactions. As of now, it can only add about 1 megabyte of data every 10 minutes. BIP 91 would introduce an update that would up that limit to 2 MB in about three months. It would also introduce a way to fit in more transactions using that 2 MB of data. This, in theory, would make transactions faster and cheaper.

According to the experts before 1 August 2017, the Bitcoin market will highly remain volatile.

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Note** This Article is Based on Current Trend