Bitcoin Hits $4100 as Analysts Warn That the 2017 Rally Is Behind Us18.77

Bitcoin’s price recovery has continued, with the currency gaining 7.2 percent in the past 24 hours. Bitcoin was trading at $4,104 at press time, having struck a two-week high of $4,186 just hours earlier. The last time Bitcoin was above $4,100 was December 3 and since then, it has dropped to its lowest level for the year below $3,200. This week has seen the currency gain 26 percent and looks set to continue its good run.

But if you’re expecting a repeat of the 2017 bull run, you might get disappointed. According to Charlie Morris, a fund manager at Atlantic House Ltd., the streak was great but it has been broken. Investors should be prepared for lower rates of return going forward, Morris warned.

Original source

Add comment

Please Sign in to be able to leave comments.