The weekend offers Bitcoin investors a respite.
The bellwether of the world of cryptocurrency rose by 8 percent to $ 6360.45 on Saturday at 11:23 am in New York, according to Bitstamp prices. The $ 6,000 mark that hit the digital facility last week for the first time since February means that the token has still lost around two-thirds of its value since it hit a record high of nearly $ 1 billion in December Has reached $ 20,000. Saturday's rise marks a break from the staggering decline during 2018. It follows the increase of more than 1,400 percent last year as Bitcoin exploded onto the mainstream. The peer-to-peer currency developed after the 2008 global financial crisis was trading at just 30 cents at the end of 201
While it is difficult to identify specific catalysts for the decline in bitcoin, the bursting of a speculative bubble could be at the heart of the matter are questions about the long-term viability of the virtual currency and price manipulation.
Bitcoin was "very" a bubble, and Robert Shiller, the Nobel laureate whose warnings of dotcomomania proved far-sighted, said in an interview with Tom Keene of Bloomberg Television on June 26. Last year's rise was "not a rational answer."