[UPDATE] Bitcoin Surges To Over $7,000--Here's Why

Bitcoin, which has been defying gravity this week following a serious security breach and theft at the world's biggest cryptocurrency exchange, Binance, has just bounced by almost 10% over the last 24 hour trading period to almost $7,000...

Meanwhile, bullish analysts have continued to voice their support for bitcoin ahead of one of the biggest events in the cryptocurrency calendar starting next week—

Blockchain Week NYC and CoinDesk’s Consensus 2019 event, beginning Monday, May 13, and running all week at the New York Hilton Midtown.This year headline speakers include FedEx’s Fred Smith, Fidelity’s Abigail Johnson, Twitter and Square’s Jack Dorsey, chairman of the U.S. Securities Exchange Commission, Jay Clayton, and U.S. presidential hopeful, Andrew Yang.

Yesterday, analysts from investment bank Canaccord Genuity said they expect bitcoin to rally hard over the next 24 months, potentially returning to its late 2017 highs due to next year's halving event, where the number of bitcoins rewarded to miners will be cut by 50%. "Now four months into 2019, we note for the third time the striking similarity in bitcoin’s price action between 2011-2015 and 2015-2019," Canaccord researchers wrote in a note to clients."While this simple pattern recognition has little fundamental basis, we note that bitcoin does operate on a four-year cycle of sorts, as the halving of bitcoin’s mining reward occurs approximately every four years.

"Bitcoin has started to form the spring 2019 bottom we began mentioning last year, although a close look at the chart suggests the recovery may be slightly ahead of itself. Looking ahead, if bitcoin were to continue following the same trend, the implication is a slow climb back toward its all-time high of ~$20,000, theoretically reaching that level in March 2021."

हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

Forbes /  🏆 394. in US

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

Budweiser Brewer Plans $7 Billion Hong Kong IPOThe Asian business of beer giant Anheuser-Busch InBev filed an application to list on the Hong Kong stock exchange, moving closer toward a multibillion-dollar initial public offering later this year.
और पढो »

[UPDATE] Bitcoin Just Cracked $6,000--Here's WhyBitcoin has come close to crossing the psychological $6,000 mark as a so-called crypto spring continues to bolster digital tokens across the board, with ethereum, the world's second largest cryptocurrency by market value, makes double-digit gains...
और पढो »

[UPDATE] Bitcoin Just Cracked $6,000--Here's WhyBitcoin has come close to crossing the psychological $6,000 mark as a so-called crypto spring continues to bolster digital tokens across the board, with ethereum, the world's second largest cryptocurrency by market value, makes double-digit gains...
और पढो »

Why is bitcoin surging? — Here are 4 possible explanationsBitcoin is on the comeback trail and it’s building momentum by the day. But what’s behind the rally?
और पढो »

Here's why the Dow dropped 600 points todayThe Dow is having its worst day since January 3. The index is down nearly 600 points, falling below 26,000 points.
और पढो »

The US is terrible at building high-speed rail — here's whyThe U.S. has no high-speed trains, aside from sections of Amtrak's Acela line in the Northeast Corridor. Watch to find out why.
और पढो »

Here's Why Colorado Is Becoming 'One Dupont (West)'Best known for the stunning Front Range mountain landscape, John Denver’s “Rocky Mountain High” and a political spectrum that spans the “People’s Republic of Boulder” and it’s conservative counterpart “The Springs”—Colorado is becoming a hub of higher education policy, innovation and collaboration.
और पढो »

Ford's rebound is just getting started — here's why it's the only auto Cramer endorses'Ford no longer wants to make cars everywhere, no matter what the cost. It doesn't want a one-car-fits-all worldwide strategy,' Jim Cram says.
और पढो »

Here's Why Jon Snow Didn't Pet Ghost Goodbye...Not Like It'll Make You Feel Any BetterHere’s Why Jon Snow Didn’t Pet Ghost Goodbye...Not Like It’ll Make You Feel Any Better
और पढो »