After bitcoin rebounds to record high, reinvigorated investors bet on even bigger gains – Daily News.
Confidence in future gains for bitcoin remained high Thursday, even after the digital currency added nearly $400 in one day to hit a record.
The fact that bitcoin was able to hit an all-time high just weeks after a slew of negative news “signals to investors and traders that bitcoin is ‘unkillable,’ or at least remarkably resilient,” said Ari Paul, chief investment officer at cryptocurrency investment firm BlockTower Capital.
Bitcoin has surged 450 percent this year to above $5,300 despite a split into bitcoin and bitcoin cash in August, heavy-handed Chinese regulation on digital currencies in early September and critical remarks from major Wall Street leaders.
If that history is any guide, investors are betting events in the next several weeks will bring further gains for bitcoin.
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