Sun07212019

Robins Global News & Noticias



  • Gaming Chair Review
    Gaming Chair Review
  • Data Recovery Review
    Data Recovery Review
  • Online Video Editors
    Online Video Editors
  • Download TV Series
    Download TV Series
  • All Elite Wrestling
    All Elite Wrestling
  • Trump Pence News
    Trump Pence News
  • Weather Alerts
    Weather Alerts

RobinsPost News Network

+ Larger Font | + Smaller Font

Consumer Daily Reports

Consumer News: Bitcoin breaks $8,000 for the first time in nearly a year

PhotoDon’t look now, but Bitcoin is back. At least for now.

The digital currency that lifted off like a rocket in 2017, reaching more than $18,000, only to give up most of that gain the following year, is on an upward trajectory once again.

In the last 30 days, Bitcoin has gained more than $3,000 to reach $8,139. It’s been almost a year since the coin has been that high. Investors who held on during the cryptocurrency’s slide are now seeing some of their investment restored.

The milestone coincides with this week’s Consensus Week, the annual gathering of cryptocurrency enthusiasts. One of those who held on during Bitcoin’s painful slide over the last two years is Tom Lee, head of research at Fundstrat Global Advisors and one of the most bullish of the Bitcoin bulls. Lee says this week’s conference will be a strong indicator of whether Bitcoin still has room to run.

“It’s the largest crypto conference,” Lee said Tuesday in an interview with CNBC. “I think that, really, this year is bringing the crypto industry together, but in a much more higher-quality form because you don’t have as many sorts of scams and ICOs out there.”

Opinion abound

There are plenty of opinions about what has awakened Bitcoin from its recent slumber, but most revolve around geopolitical events. International tensions were running high in 2017 when Bitcoin registered its biggest gains.

This year it’s international trade tensions with China that may be fueling Bitcoin’s rise. The digital currency has been especially strong in the last week as President Trump imposed higher tariffs on China and that country retaliated with tariffs on U.S. exports. Some analysts have speculated that wealthy Chinese citizens have used Bitcoin as a means to move some of their money out of the country.

Lee thinks the digital currency is finally becoming more accepted and that it’s not the exotic, mysterious investment that it appeared to be in 2017.

Higher from here?

“I think that there’s an increasing chance that traditional, non-crypto investors, traditional financial investors, are going to start to look at crypto again,” Lee said. “And that’s very important, obviously, because bringing in that new sort of interest and demand into crypto could really push bitcoin to its all-time high.”

But the doubters haven’t changed their minds. Billionaire investor Warren Buffet recently called Bitcoin “a gambling device.” His Berkshire Hathaway partner Charlie Munger went farther, comparing Bitcoin investors to the infamous biblical character Judas Iscariot.



Posted: 2019-05-15 12:25:46

Get Full News Story On Consumer Affairs


Listen to this article. Speaker link opens in a new window.
Text To Speech BETA Test Version.


Print Friendly and PDF Share Embed


Related News Stories From The Web And More

Related Bing News

Consumer News: Bitcoin breaks $8,000 for the first time in nearly a year | Consumer Daily Reports | RobinsPost News Network - Newscast

Bitcoin breaks above $13,000 With Bulls Eyeing Test Of Year’s High

Wed, 10 Jul 2019 07:42:00 GMT

Bitcoin has reclaimed ... lows at $3,200 seen late last year are reflected in the bitcoin network fundamentals. For example, difficulty has touched an all-time high, as well as the hashrate ...

Bitcoin Breaks $200 Billion Market Cap For the First Time in 17 Months

Tue, 25 Jun 2019 00:22:00 GMT

Market visualization courtesy of Coin360 Data from Coin360 puts bitcoin firmly in the driving seat on cryptocurrency markets, 24-hour gains topping as much as 6% to take BTC/USD over $11,350. The last ...

Bitcoin breaks $11,000 for first time since 2018

Sun, 23 Jun 2019 19:18:00 GMT

Bitcoin started the year at just below the $4,000-level but remains some way short of its all-time peak of more than $19,000 at the end of 2017. Bitcoin dipped 1.4 per cent in trading on Monday to $10 ...

Bitcoin Breaks $10,000 for First Time Since March 2018

Fri, 21 Jun 2019 16:43:00 GMT

Bitcoin (BTC) has continued its steady rally in price over the past three months to break $10,000 today for the first time in over a year, according to Coin360. Bitcoin broke the $10,000 mark today ...

Bitcoin Breaks $10,000 for First Time Since March 2018

Fri, 21 Jun 2019 16:37:00 GMT

Bitcoin (BTC) has continued its steady rally in price over the past three months to break $10,000 today for the first time in over a year, according to Coin360. Market visualization courtesy of ...

Related Twitter Search

  • No items found
  • Related News Story Videos From Youtube

    Breaking News! Bitcoin is Breaking Out. The Price is 10k USD. What's next?


    Related Videos On: Breaking News! Bitcoin is Breaking Out. The Price is 10k USD. What's next?


    Will Bitcoin Break $14K in the Next Two Weeks?


    Related Videos On: Will Bitcoin Break $14K in the Next Two Weeks?


    Bitcoin DOMINATION As Price Ready To Surge to $100,000


    Related Videos On: Bitcoin DOMINATION As Price Ready To Surge to $100,000


    Tom Lee breaks down bitcoin and Libra's long term outlook


    Related Videos On: Tom Lee breaks down bitcoin and Libra's long term outlook


    BITCOIN BREAKS $11K! WHEN $20K? $100K? News Recap.. πŸ€‘πŸ˜±πŸš€


    Related Videos On: BITCOIN BREAKS $11K! WHEN $20K? $100K? News Recap.. πŸ€‘πŸ˜±πŸš€






    Blow Us A Whistle

    Comments (Whistles) Designed By Disqus




    Company Information

    Official Content Providers











    PRIVACY POLICY

    We recommend Firefox 3 (and above), Edge, and Chrome for dynamic performance.
    Β© 2008-2019 RobinsPost (The Bird's Eye View Company) All rights are reserved.
    RobinsPost provides links to news sites based on their RSS feeds.
    All trademarks, copyrights, videos, photos and logos are owned by news sources.
    News stories, videos and live streams are from trusted sources:
    Bing News, Google News, Faroo News, NewsApi.org and YouTube Search Results.
    ROBINSPOST Is Proudly Made In America.
    Where Quality, Safety and Service Comes First.