Experts: Bitcoin hasn’t reached rock bottom yet
Coming off the best trading marathon for crypto assets since late July, the world’s number one crypto currency, Bitcoin headed south on Monday…
Bitcoin hits $10,000 boasting 940% of gains in 2017
On Tuesday, the virtual currency bitcoin managed to grow to an all-time maximum above $10,000 on key exchanges as well as digital currency indexes, including the well-known Luxembourg-based trading platform BitStamp.
Reportedly created in 2009, the virtual currency bitcoin makes use of encryption along with a blockchain database, enabling the anonymous and rapid transfer of funds outside of a conventional centralized payment system.
It has ascended more than 900% so far in 2017, reporting the largest revenue of all asset classes, taking advantage of soaring institutional demand for crypto-currencies because mainstream and financial use has expanded.
However, many skeptics tell that it appears to be a pure speculative bubble, which has no relation to real financial market activity, to say nothing of the economy. What’s more JPMorgan chief Jamie Dimon dared to have it labeled a fraud.
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