Posted on 05/13/2019 4:58:36 AM PDT by Enlightened1
Bitcoin climbed close to $7,600 on Sunday, according to industry website CoinDesk.
The world’s most-valuable cryptocurrency is now up nearly 90% since the start of the year.
One analyst says bitcoin could soar as high as ”$50,000 or $100,000,” as it’s only “in the early part of its cycle.”
Bitcoin has jumped above $7,000, continuing a stunning comeback for the cryptocurrency in 2019.
The virtual currency climbed close to $7,600 on Sunday, according to industry website CoinDesk. It’s since pared gains, but is still holding above that $7,000 level.
It marks yet another move higher for the world’s most-valuable cryptocurrency, which is now up nearly 90% since the start of the year.
That’s despite negative headlines surrounding bitcoin exchange Bitfinex, whose parent company has been hit with a probe in New York, and Binance, which was hacked in a heist that saw more than $40 million in bitcoin stolen.
“Bitcoin has been building up momentum,” Mati Greenspan, senior market analyst at social trading firm eToro, told CNBC via telephone. “Ever since the mid-December lows we’ve actually doubled in price. ”
According to Greenspan, the digital currency could soar as high as ”$50,000 or $100,000,” because bitcoin is still only “in the early part of its cycle.” It’s worth noting bitcoin was once worth nearly $20,000 in late December 2017, before a massive slump last year.
“It has this way of jumping 100s of percentage points and retreating,” he said. “Right now we’re coming off that huge retracement and are only seeing a small rise.”
Sunday’s rally comes amid “anticipation of announcements” at a high-profile industry event in New York, Charles Hayter, CEO of digital currency comparison site CryptoCompare, noted.
“We are seeing large trade numbers at 4 million per hour which is 4x the normal (volume) with people buying...
(Excerpt) Read more at cnbc.com ...
It’ll never go down again! Sell your house! On the way to $1 million!
I’ve got all this Bitcoin to unload...
I’m thinking I’ll put it into tulips.
Bitcoin is not tulips. Never was, never will be. My prediction is Bitcoin will cycle like all currencies but the long term trend will but a steady climb to 100k or more per coin. There can only be 21 million bitcoin. If demand, usage and holdings only increase at a modest rate the value will climb astronomically over time.
For laughs you and other Freepers will enjoy this link.
The Bitcoin Obituaries. The Fake Stream News has declared Bitcoin dead over 355 times going all the way back to 2010. Here is the link.
https://99bitcoins.com/bitcoin-obituaries/
I strongly suggest Freepers add a little crypto (Bitcoin, Ethereum, XRP) to your portfolio. I have already seen gains in 2019.
https://coinpaprika.com/?tab=longterm
Bitcoin like everything else goes in cycles. It is the firest new Asset class in over 300 years. The last one being Bonds in the late 1600s.
Anyway see post #6 and the 355 times Bitcoin has been declared dead since its inception.
100% caused by Chinese in response to Trump’s tariffs.
Bitcoin is just a Ponzi scheme.
100% caused by Chinese in response to Trump’s tariffs.
********************************
That’s certainly a major factor. It’s one of the few ways in China to move money in ways the state overlords do not approve.
“Year To Date” in the headline above means since Jan 1st, 2019.
So it was not a response in the last week. This is for the entire year of 2019.
How is it a Ponzi scheme?
Fart in the wind.
I think you have to thrown in a September 2019 US debt ceiling and the fact that risky corporates have exceeded peak 2008 crisis levels. Don’t leave out Deutsche Bank.
BTC did nothing until very recently (April), when it leaped out of a long base on volume.
Which means there is even more room for growth.
Fart in the wind?
Ponzi sceme?
I bought a few when it was $250 and today it is 7000...
If I lose it all it has no impact on my finances any more than a night out on the town or two, but the upside is possibly huge given the potential to do for the financial world what the Internet did for information.
No guts no glory.
You did very well; millions lost their savings.
Yay!
The $200 worth of Bitcoin I bought in January of 2018 - has now skyrocketed in value.
Now worth $84.38.
It is Desperate Money trying to get OUT OF CHINA!
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