Bitcoin price explodes – but for how long?
The cryptocurrency markets are experiencing a dramatic comeback which has been the price of Bitcoin soar by more than one third over the past week.
Confidence in virtual currencies has increased in the past fortnight after the EU ruled out a Bitcoin ban and the US Senate discussed the introduction of laws to regulate the notoriously volatile crypto-markets.
Last week, the value of Bitcoin plunged to a low of almost $8,000, but it’s now close to $11,000 after hitting its highest level since January. Ethereum increased in price by about 25% over the same period, with LiteCoin performing similarly and Ripple up by about 15 percent. So will the rise continues or is this just the latest inflation of a bubble that’s doomed to pop? Sadly, we just don’t know.
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