Bitcoin Surpasses $11,000 as Memories of Popped Bubble Fade
Comment of the Day

June 24 2019

Commentary by Eoin Treacy

Bitcoin Surpasses $11,000 as Memories of Popped Bubble Fade

This article by Eric Lam, Vildana Hajric and Joanna Ossinger for Bloomberg may be of interest to subscribers. Here is a section:

Bitcoin traded above $11,000 for the first time in 15 months, recouping more than half of the parabolic

increase that captured the attention of mainstream investors before the cryptocurrency bubble burst last year.

“The bounce-back of Bitcoin has been fairly extraordinary,” said George McDonaugh, chief executive and co-founder of London-based blockchain and cryptocurrency investment firm KR1 Plc. “Money didn’t leave the asset behind, it just sat on the sidelines waiting to get back in.”

Eoin Treacy's view

When I got on the plane yesterday Bitcoin was trading at around $10,000. When I landed in London it was at $11,000. That’s a big move even for bitcoin. So, what’s going on?

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