Bitcoin is on the move on Friday morning, and not a moment too soon for the bulls.
It’s been something of an inauspicious start to 2018 for the king of the cryptocurrency universe. Sure, there was the Peter Thiel news, but aside from that, the limelight has belonged to Ripple, whose cofounder Chris Larsen catapulted ahead of Google founders Larry Page and Sergey Brin (among others), to very nearly tie Mark Zuckerberg as the world’s fifth richest person.
That’s thanks to the continuation of a ridiculous rally that totaled roughly 32,000% in 2017 and extended in the new year, right up until Thursday, when it slid sharply thanks in part to this:
Our process for adding new assets https://t.co/cdoA0dn1nV pic.twitter.com/Y9NGar5dIa
— Coinbase ?? (@coinbase) January 4, 2018
It’s bounced back a bit and did rise above $3 again earlier this morning, but you get the idea. The brakes were tapped on Thursday – if only slightly:
Well as alluded to above, Bitcoin is surging on Friday morning, breaking back above $16,000 as competitors stumble:
Who knows that the catalyst is for that.
What we do know is that it better hold. Because remember, according to a recent LendEDU poll of almost 700 active Bitcoin investors, nearly 20% of them bought put their stake on the old credit card:
