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Bitcoin jumps back above $6,000 to give respite to investors

Bitcoin snapped its declining spree and rose 8% to touch $6,338.22 in New York on Saturday, according to Bitstamp prices. Bitcoin had fell below the $6,000 threshold last week for the first time since February. Despite the gain, Bitcoin has still lost about two-thirds of its value since reaching a record high of nearly $20,000 in December last year. Saturday’s rise has stemmed the rapid decline through most of 2018. Bitcoin rose by over 1400% last year. Bitcoin was “very much” a bubble, Robert Shiller, the Nobel laureate economist said in an interview with Bloomberg Television’s Tom Keene on 26 June.

Read More at Livemint News date : 2 Jul 2018, Monday

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