Bitcoin Rises Above $1,900 for the First Time

A twenty five bitcoinA twenty-five bitcoin. Photographer: Tomohiro Ohsumi
  • Bitcoin Rises Above $1,900 for the First Time

Since over 200,000 computers were hacked across 150 countries. The Cryptocurrency, Bitcoin, has continued to gain against the U.S. dollar.

Bitcoin gained as much as 4.3 percent on Friday to an all-time intraday high of $1,961.70, making it fifth-straight day of gains.

Experts have said the cryptocurrency which has doubled its value since the beginning of the year amid global uncertainty and growing interest in Asia, may be a bubble in the making, as bitcoin has broken key psychological levels without solid fundamentals to validate its upsurge.

“While activities of hackers have aided current rally, China cash flow policy had bolstered previous gains,” said Samed Olukoya, a foreign exchange research analyst at Investors King Ltd. “Therefore, it remains uncertain what the future holds for the unlikely to be accepted cryptocurrency by top global financial nations due to its negative perception — hackers’ payment medium for exploiting people.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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