Bitcoin records 3-week gains of 22%
- 5 months ago
Bitcoin has surged by 10% to a high of $3,929.10 and bringing its 3-week gains by 22%.
Along with Bitcoin XRP rose by 16% and ETHER also went up by 13%.
Nevertheless 2018 has been a year to forget as most cryptocurrencies are concerned, Bitcoin alone has been down by 72% off its highs and overall it is down 80%, the number of ICO’s that have had to close shop is also alarming and regulators having a clean-up of the industry by seeking questionable fundraising projects and even in some instances bringing fraud charges to cryptocurrency founders.
However, this may indicate a good forecast as CoinFi CEO Timothy Tam put it, "The garbage, or at least a good portion of it, is starting to get collected," adding that "Ultimately this strengthens the market."
He wasn’t as excited about the 10% increase of BTC but still sounded rather positive in the outlook, "It's certainly a hell of a lot more cost efficient to buy now."
"The hope is that the market has culled jumpy retail investors and, as regulators move in, we start to see some much-needed stability."
Source: Smart Trend Team