Bitcoin price: Cryptocurrency climbs back above $7,000

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Thank you so much!Bitcoin has jumped above $7,000, continuing a stunning comeback for the cryptocurrency in 2019.The virtual currency climbed close to $7,600 on Sunday, according to industry website CoinDesk. It's since pared gains, but is still holding above that $7,000 level.It marks yet another move higher for the world's most-valuable cryptocurrency, which is now up nearly 90% since the start of the year.That's despite negative headlines surrounding bitcoin exchange Bitfinex, whose parent company has been hit with a probe in New York, and Binance, which was hacked in a heist that saw more than $40 million in bitcoin stolen. "Bitcoin has been building up momentum," Mati Greenspan, senior market analyst at social trading firm eToro, told CNBC via telephone. "Ever since the mid-December lows we've actually doubled in price. "According to Greenspan, the digital currency could soar as high as "$50,000 or $100,000," because bitcoin is still only "in the early part of its cycle." It's worth noting bitcoin was once worth nearly $20,000 in late December 2017, before a massive slump last year. "It has this way of jumping 100s of percentage points and retreating," he said. "Right now we're coming off that huge retracement and are only seeing a small rise."

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COMMENTS (1)

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    leclimabad1980 June 15, 2019

    Fabulous video you have here.