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- According to one badyst, bitcoin could exceed $ 10,000 in two weeks.
- This milestone would mark Bitcoin's recovery to more than half of its historic high.
- The trade war between the United States and China and the more general interest in crypto-currencies could be at the origin of the soaring.
- Watch the live bitcoin trade.
According to one badyst, the bitcoin could exceed $ 10,000 in two weeks, which represents a recovery of about half of its record.
"The price of bitcoin is poised to exceed the $ 10,000 level, recovering half of its losses from record levels," said Naeem Aslam, senior market badyst at Think Markets UK. He expects bitcoin to break through this week or next week, adding that it would be "a real embarrbading moment for those who say the currency will never recover from its losses."
Cryptocurrency jumped to nearly $ 20,000 in December 2017, but fell below $ 7,000 in less than two months. After falling to $ 3,250 in December 2018, it surpbaded $ 8,700 this week.
"Once this market has taken a steam, it's hard to stop," said Neil Wilson, chief market badyst for Markets.com. "It's a great momentum game and the more buzz there is, the more traders will pile up behind the rising wave."
Wilson does not expect the recovery to last, but he warned against betting on a bitcoin crisis.
"If you're a natural bear, do you think standing in front of a steamroller," he added. "Better wait and let it go, which will eventually happen."
Although there is no clear catalyst for rising prices, there are several theories. Investors may have fled to Bitcoin as a safe haven during the US-China trade war, despite research suggesting that cryptocurrency is vulnerable to short-term interest rates, stock market volatility expectations and foreign exchange, and other factors that change prices. traditional investments.
Another factor could be the growing growing interest. Fidelity and other brokerage firms are poised to buy and sell crypto-currencies on their platforms, while Facebook is recruiting payment, e-commerce and cryptocurrency partners while prepares to launch his own digital piece.
The gathering of bitcoins could be a surprise considering the panoply of recent scandals in the cryptocurrency space. The Attorney General of New York State, Letitia James, recently filed a lawsuit to accuse the owner of the Bitfinex exchange of "ongoing fraud" and to have taken at least 700 Millions of dollars on reserves supporting his digital play, Tether, to cover $ 850 million of missing funds. At the same time, Binance, one of the world's largest cryptocurrency trading centers, recently announced that hackers had stolen $ 40 million of bitcoins.
Bitcoin is up more than 130% this year at $ 8,720 a piece.
Insider Markets
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