Published: Feb 8, 2018 3:37 p.m. ET Cryptowatch Today: Bitcoin cash leads crypto rally, soaring 35% Cryptocurrency prices extended a recent uptrend on Thursday, with the broader digital-currency complex advancing, as global equity markets staged a selloff. Market strategist have pointed to a recent correlation between stocks and cryptocurrencies, which has recently dissipated as investors appeared to resume their speculative investments in digital assets, most notably bitcoin cash, which rallied by more than $300.
Bitcoin cash is a spinoff of core bitcoin, which boasts comparatively faster transactional speed and lower fees. Vanguard latest to say bitcoin on its way to zero After yesterday’s Goldman Sachs report in which research analyst Steve Strongin said there is a probable chance that most cryptocurrencies will go to zero.
A U.S. economist at Vanguard echoed that sentiment. Vanguard’s Joe Davis said the price volatility of bitcoin makes it unfit to serve as a currency, adding that he sees “a decent probability that its price goes to zero.” Most pundits who are calling for the bottom to fall out of cryptocurrency prices remain positive on Blockchain, the distributed-ledger technology the underpins most major cryptocurrencies, citing its transparency and efficiency as an essential component for the future of Blockchain business.
On the contrary: Winklevoss: If you can’t see bitcoin at $320,000, you just lack imagination On Nov. 25, the price of bitcoin
began steadily rising, trading from $8,763 to an all-time high of $19,343 on Dec.
16. The recent rise has correlated with the number of internet searches for “what is bitcoin.” Read: Evidence people haven’t got a clue when they invest in bitcoin CryptoWatch: Check bitcoin and cryptocurrency prices, performance, and market capitalization, in one dashboard Check out: Why stocks could charge up 10% from here, unless bitcoin gets in the way Copyright © 2018 MarketWatch, Inc. All rights reserved. Read more from marketwatch.com…
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