By Shayne Heffernan on February 17, 2018No Comment Virtual currency bitcoin climbed back to almost $11,000 per token for the first time in two weeks. Experts say that this psychologically-key level may bring new enthusiasts to the crypto market.
Bitcoin had previously lost nearly two-thirds of its value in a sharp plunge from a historic high of $20,000 in mid-December to below $6,000 last week. The recovery of bitcoin and the crypto markets in general was reportedly spurred by the US Senate’s cautiously-optimistic response to calls for stricter regulations.
Ripple has bounced back strongly to $1.18 and looks set to head towards $2. Ethereum is nearing $1000 and G-BiT is attracting a lot of attention as they “slow fork”.
“For most of December and all of January, investors were focused on a regulatory crackdown, mostly in Asia,” said Brian Kelly, the founder and CEO of BKCM, an investment firm focused on digital currencies, as quoted by CNBC. “That all changed when CFTC Commissioner Giancarlo spoke at the Senate Banking Committee and changed the regulatory tone.
It appears the negative regulatory news is behind us and investors feel more confident investing.” According to analysts, such psychological milestones commonly trigger interest in the cryptocurrency. Bitcoin first topped $10,000 in late November as interest in the cryptocurrency surged. Read more from livetradingnews.com…
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