A Year After Bottoming Out at $3,100, Bitcoin is Up 127%

By the top of May, although, bitcoin was trying overbought at highs close to $9,000. The ensuing pullback to $7,500, nonetheless, was short-lived, as costs surged to $13,880 within the 16 days to June 26. The close to 90-degree rally occurred because the bitcoin market was pushed right into a state of frenzy by Facebook’s announcement of its proposed cryptocurrency Libra.

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