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The weekend offers a bit of respite to Bitcoin investors.
The world cryptocurrency barometer rose 8% to $ 6,338.22 at 5:30 pm in New York on Saturday, according to the Bitstamp Awards. The gain, after the digital asset broke the $ 6,000 mark last week for the first time since February, means that the chip has lost another two-thirds of its value since its peak of nearly 20,000. $ in December. Saturday's hike marks a break from the discordant decline for most of 2018. It follows the increase of more than 1,400 percent last year as Bitcoin exploded on the mainstream. The peer-to-peer currency developed after the global financial crisis of 2008 has been trading at 30 cents at the end of 2010.
Although it is difficult to identify specific catalysts for the decline of Bitcoin, the bursting of a speculative bubble may be the heart of the problem as questions about the long-term viability of virtual currency and price manipulation abound.
Bitcoin was "really" a bubble, Robert Shiller, the Nobel Prize-winning economist whose warnings, said in an interview with Tom Keene of Bloomberg Television on June 26. The rise of last year was "not a rational answer." [19659010] ( Updates with the last price in the second paragraph.]
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