BITCOIN RESTORED TO $ 10,000
On Thursday, bitcoin recovered above $ 10,000, for the first time in 2 weeks, after losing a third of its value, falling off a record high of over $ 19,000 to less than $ 6,000 last week.
Comments by regulators have eased concerns because of tightening of norms, after which the crypto currency started recovery.
“In December and January, investors were focused on tightening supervision by regulators in Asia,” said Brian Kelly, head of BKCM. “When the head of the Commodity Futures Trading Commission addressed the Banking Committee of the Senate and changed the tone, investors felt confident and relieved.”
Coinbase, the largest US platform for buying crypto currency, registered 300,000 new users a week before Thanksgiving. Their total number exceeds 12 million.
British trading platform eToro notes that 60-70% of deals since December were involving bitcoin.
After bitcoin recovered above $ 10,000, analysts expect a jump in purchases.
Every time such key marks were reached, new participants of the crypto-currency market appeared. Today there is a growing interest from hedge funds, experts say.
According to Autonomous Next data, 167 new crypto-currency funds appeared in the past year.
In total, there are 225, and under their management are $ 3.7 billion of assets.
“Despite the volatility of prices for the crypto currency, interest in investment products in this area is growing,” says Lex Sokolin of Autonomous Next. Parabolic growth of bitcoin in the last 12 months from less than $ 1,000 to more than $ 19,000 suggests that the psychological key pattern for bitcoin is difficult to determine.
Ari Paul, investment director of BlockTower Capital, expects that bitcoin will continue to grow, while the $ 10,000 mark is not psychological.