The price of bitcoin is at a 2016 high
TAGS: Bitcoin | Fintech | Markets | Apester Poll | Brexit
Bitcoin has hit $807
on Wednesday at just after 11.13 a.m. GMT (6.13 a.m. ET). It
is the first time bitcoin has been above $800 this year and
represents a fresh peak from June's high of $775:Markets
Insider
However, within a month of the $775 high, the price of bitcoin
fell bellow $600 again. It began steadily creeping up again in
mid-October and has gained momentum in recent weeks.
The June high came after a spike in the price of the
cryptocurrency following Britain's shock vote to leave the
European Union on June 28th.
Mati Greenspan, a senior market analyst at trading platform
eToro, says in an email on Wednesday morning: "If not in the
stock markets, the fears are showing up somewhere. It's been said
before that Bitcoin is the new gold. So while gold shows
absolutely no sign of acting like a barometer of fear, investors
can start to look at this new shiny digital matter for guidance."
The price of cryptocurrency bitcoin has passed its 2016 peak in
recent days, with some market commentators taking it as a sign of
fears about global growth in 2017.
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