OTCbid - Bitcoin price bounces back closer to 2021 all time high
" Bitcoin is attempting to stage its next comeback as it came close to $US50,000 ($A68,000) for the first time since May as the broader cryptocurrency market also looked to claw back massive losses.
The most popular cryptocurrency, bitcoin is trading at $A44,500, and comes after the top ten cryptos, including ethereum and dogecoin, added $US300 billion ($A409 billion) to the market over the past week. Tony Sycamore, APAC market analyst at City Index, said the bitcoin rally comes after last week’s ethereum upgrade and renewed optimism towards a bitcoin ETF, which would allow investors to buy into the digital coin without going through the complicated process of trading. “This is overshadowing concerns the US could be about to pass legislation including cryptocurrency as part of tax reporting legislation in the Infrastructure and Jobs Act,” he noted. " - Read Full Article
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