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Bitcoin 'Roars Back', Surges 50% in 30 Days

Sunday May 19, 2019. 09:34 PM , from Slashdot/Apple
A week ago bitcoin was trading at $6,000. Today Forbes reports bitcoin 'which has been swinging wildly throughout this week, has suddenly rallied back to over $8,000 per bitcoin, somewhat putting to rest investor and trader fears the recent bitcoin bull run may have already ended':
The bitcoin price has risen around 50% over the last 30 days, pulling many other major cryptocurrencies with it, including ethereum, Ripple's XRP, bitcoin cash, litecoin, EOS and binance coin... The total bitcoin and cryptocurrency market capitalization, which lost some $30 billion in a matter of minutes on Friday morning, has now recovered almost all of that value and is back around $250 billion, according to data from CoinMarketCap which tracks most major cryptocurrencies...

The bitcoin and cryptocurrency sector has been celebrating a raft of positive news all this week, from retail adoption [at Starbucks, Nordstrom And Whole Foods] to legendary investor support. Bitcoin and cryptocurrency technical data is also showing the bitcoin price could be heading higher, with well-known bitcoin trader Eric Choe saying he expects the digital token to reach $22,600 sometime in 2020, which would be a fresh bitcoin all-time.
Mark Mobius, the investor cofounder of Mobius Capital Partners who once branded bitcoin a 'real fraud', now says instead that in the future bitcoin will be 'alive and well.'

Read more of this story at Slashdot.
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