A Bitcoin Comeback? What Experts Are Saying About The Cryptocurrency's Surge

Source Trading View

Bitcoin was last up almost 17% at $8,131 on the Bitstamp exchange, the largest daily percentage jump since early April.

Other market participants said perceptions of bitcoin's resilience in the wake of last week's $40 million theft from the major Binance exchange was supporting sentiment.

The advance comes only a few days after the digital asset broke through $6,000, and looks set to boost investor interest in conferences on the technology underlying the biggest crypto asset taking place in NY this week.

Bitcoin advanced 11% from Friday to $6 957.73 as of 09:01 Tokyo time, having earlier hit $7 585, according to Bitstamp pricing.

Bitcoin's price is rallying, surpassing the $8,000 for the first time this year.


With fundamental analysts often struggling to explain crypto markets, traders have recently pointed to institutions increasingly embracing digital coins.

The largest cryptocurrency is on a tear after trading closer to $5,000 at the start of May and has more than doubled since mid-December. "Before then there was not a concrete date on when the Bakkt product is going to be launched".

Bitcoin has jumped almost 40% in the past week and has more than doubled in the past year, driving speculation of a comeback to 2017 levels. Ownership is anonymous, pricing is not always unified through arbitrage, and reporting and regulation are nearly non-existent - though for the past year US futures authorities have disclosed net positions on American platforms.

-With assistance from Olga Kharif and Kenneth Sexton (Global Data).

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