Bitcoin Tuesday suddenly climbed to the highest level since November last year, driven by soaring prices of virtual currency, stirred the calm of this $ 160 billion market for three months to come.
Traders bit difficult to find the cause of rising currency, Bitcoin topped $ 5000, CoinMarketCap.com digital asset tracking value in less than an hour gone up by about $ 17 billion.According to Bloomberg pricing (Bloomberg composite pricing) data, as of 7:43, London’s largest virtual currency was trading at 4,686.$ 68 a day up 14%.Bitcoin competitor Ethernet currency, coins and reboxetine litecoin also appeared to rise, encryption-related Asian currencies including Remixpoint Inc stock.And Monex Group Inc.Are rising.
Asian market trading, Bitcoin suddenly rising fast, reaching its highest level since November.Intraday Bitcoin was up 23% to 5078.$ 5.2.Driven by the Bitcoin market, the block chain plates afternoon shot up again, the new morning Technology rose 8%, Shunya rose 6 percent, the new capital, Cheuk-wing technology have strong.
Although sudden fluctuations Bitcoin is nothing new, but the prices of such virtual currency this year is relatively weak, as investors plunged 74 percent in the last year, the prospects for further Bitcoin accepted mainstream were weighed.Market participants said the Bitcoin large buy and sell orders tend to lead to large fluctuations, partly because trading volume distributed in dozens of trading venues.Follow the trend of individual investors may also exacerbate volatility.
“Bitcoin market and the market in general with respect to encryption to other market is still small, and emotional.”Managing Partner block chain investment and advisory firm Kenetic Capital of Jehan Chu said,” This is still affected by the wave of enthusiasm to a large extent.I think nothing special, just a temporary enthusiasm today.”
Encryption currency Company CEO George Bitspark?Aleppo (George Harrap) said he would “suspend most things” until the market stabilizes.The reason he did not come up with the surge in Bitcoin Bitcoin community contacts.
“the reason?Now anybody’s guess.”Harrap said.
Some analysts said it expected the US market or through Bitcoin ETF related, according to foreign media reports, the US Securities and Exchange Commission (SEC) announced a surprise approved the listing of two bitcoin exchange-traded fund (ETF) of.Early next month, Bitwise Asset Management and Investment Management VanEck will officially release Bitcoin ETF.The rose Bitcoin may be affected by this news.
Currency encryption technology analyst and investor Josh Rugby (Josh Rager) said that based on Bitcoin Since 2011 the price trend, and Bitcoin rebound from a record high after the callback in the model, he believes in Bitcoin 2051 days, ie until 2023, it will reach a new peak.
Disclaimer: This article is only for content distribution and does not constitute investment advice.