Bitcoin Traders Bid, Regulator Ponder
Bitcoin trading in the Green
Thursday, Bitcoin traded in the Green, breaking $11,000 Key resistance mark. Most exchanges listed the # 1 cryptocurrency higher about 4% at around $10,800 earlier on the day
Currently, Bitcoin is trading at: 11,065.0947, +547.30, or +5.20%, at 6.54a GMT, the market is open.
With a majority of the Top cryptocurrencies by market cap were trading higher Thursday afternoon on the 1st trading day of March.
Notably, the recent Bitcoin price correction should not scare investors. Instead, the sharp decline serve as an indicator as to Bitcoin’s potential.
Bubbles are necessary to bring capital into the market and to see if such innovations are actually going to stand.
In December many traders and people invested in Bitcoin actually made very large sums when Bitcoin rallied from about $6,000 in October to about $20,000 in December.
What we saw with Bitcoin is that it is following the very time-honored path of disruptive innovation going all the way back to the printing press, railroad, electricity, radio in the 1920’s, biotech, and the internet, the ‘bubble’ is part of what it is about.