What is going on with bitcoin's surge? Some theories:
If you haven’t heard, bitcoin is back. The digital currency on Thursday booked its eighth winning session in the past 10 and is on track to log four successive winning months — this after recording six losing months in a row, an unflattering record it had never previously achieved.
“With bitcoin now back to a resistance band near $6,000, similar to where it was in Q2 2015, a pullback would not be surprising. However, rather than sell or attempt to micromanage bitcoin exposure, we would strongly encourage investors to remain focused on the longer-term bottoming profile developing,” he said.
“We’ve been seeing steady growth and adoption in the industry, and prices are starting to get in line with the usage of bitcoin,” said Mati Greenspan, senior market analyst at eToro.Is sentiment shifting? Bitcoin, for the first time in a while, is shrugging off bad news. The industry, which is prone to negative headlines, including exchange heists and malfunctions, or the use of cryptos for illicit activity, has been back in the headlines.
But the digital currency barely flinched. After a momentary selloff, bitcoin resumed its march higher.Are people actually dropping gold? Or maybe people are trading in a popular haven asset for a slice of digital currency. Grayscale Bitcoin Trust was the most actively traded stock on @OTCMarkets OTCQX today https://t.co/ZRzaeudjPx
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[UPDATE] Bitcoin Just Cracked $6,000--Here's WhyBitcoin has come close to crossing the psychological $6,000 mark as a so-called crypto spring continues to bolster digital tokens across the board, with ethereum, the world's second largest cryptocurrency by market value, makes double-digit gains...
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[UPDATE] Bitcoin Just Cracked $6,000--Here's WhyBitcoin has come close to crossing the psychological $6,000 mark as a so-called crypto spring continues to bolster digital tokens across the board, with ethereum, the world's second largest cryptocurrency by market value, makes double-digit gains...
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