Bitcoin Swings For The Fences

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Bitcoin prices continue to climb, notching fresh highs as the broader cryptocurrency space keeps gaining momentum.

The world’s largest cryptocurrency by market capitalization reached as much as $3,646.87 today, according to the CoinDesk Bitcoin Price Index (BPI), helping the digital asset set an all-new high.

This price represented a roughly 275% year-to-date increase.

“It’s an incredible bull trend,” said Petar Zivkovski, COO of leveraged cryptocurrency platform Whaleclub.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Market Optimism

Going forward, some market experts are quite optimistic about Bitcoin’s prospects.

Iqbal Gandham, UK Managing Director at eToro, a multi-asset broker and social trading company, offered a bullish perspective: 

“[Bitcoin’s] ecosystem is getting stronger,” he said. “You now have more places to spend Bitcoin, more evening meetups discussing how to work with Bitcoin and other [cryptocurrency] assets.”

Article source: https://www.forbes.com/sites/cbovaird/2017/08/11/bitcoin-swings-for-the-fences/