Cryptocurrency choices: There s more to this market than bitcoin, ethereum
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Beyond bitcoin: These altcoins are super popular
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Bitcoin bounces strongly after hitting lowest since early March
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It rose as much as 9.1% to $52,518 and was trading around $52,000 in Hong Kong
Bitcoin rallied Monday as investors took advantage of the lowest levels in seven weeks to pile back into the cryptocurrency.
The largest cryptocurrency is on track for its biggest gain since March 13 after dropping as low as $47,079 in early Asia trading before rebounding. It rose as much as 9.1 per cent to $52,518 and was trading around $52,000 as of 10:22 am in Hong Kong.
“The world is moving from centralized to decentralized; if you believe in that theme, it means the drop is a great buying opportunity,” said Michael Sikorsky, chief executive officer and founder of Copia Wealth Studios, in a note Friday. “Volatility has always created opportunity, and people keep being surprised by the new highs month over month and year over year.”
Bitcoin Rebounds Strongly After Hitting Lowest Since Early March
Bloomberg 2 hrs ago Joanna Ossinger
(Bloomberg) Bitcoin rallied back Monday as investors took advantage of the lowest levels in seven weeks to pile back in.
The largest cryptocurrency headed for its biggest gain since Feb. 8 at around $52,700 as of 9:35 a.m. in London. At one point it rose as much as 10.4%.
The digital asset had been mired in a two-week slump after reaching a record on April 14, buoyed by enthusiasm from the Coinbase Global Inc. listing. Technical warnings from Wall Street, coupled with the collapse of two crypto exchanges in Turkey at the end of last week, had depressed sentiment amid fears over a growing bubble.