(16 APRIL 2018)DAILY MARKET BRIEF 2:Bitcoin rush is not over

(16 APRIL 2018)DAILY MARKET BRIEF 2:Bitcoin rush is not over

16 April 2018, 13:20
Jiming Huang
0
18

Bitcoin has surged more than US$1,000 from below $7,000 to around $8,050 in a bizarre surge that follows months of bearish consolidation. Its rise is pulling the rest of crypto sector higher. Technicians say the technical break of $7,450 triggered a surge in Bitcoin buying. 

Despite talk of a crypto bubble, there remain significant investors who believe crypto will rally. Developments behind the scenes include new technology that will power faster transactions, blockchain projects and open-minded regulators: all will spark the next wave of crypto accumulation. Or perhaps price apprecation was Arnaud Masset (and Yann Isola) killer Crypto presentation yesterday in Geneva?

By Peter Rosenstreich

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