OTCbid - To the moon? Bitcoin roars back, fuelling $100,000 predictions

" Bitcoin to $100,000. Bitcoin to the moon. Bitcoin to infinity.

The world’s largest cryptocurrency is staging a comeback that has taken it up more than 50% from recent lows, reviving animal spirits and coaxing out sky-high price targets that, while a source of comedy for some, emerge when the asset is rallying.

Out are predictions the digital currency was ready to retest $20,000 amid a slew of negative headlines that many said would push it lower. Back in vogue are calls for the coin to keep rallying again to its all-time highs and beyond.

And there are plenty of superlatives to mark the moment: Bitcoin is up four weeks straight and is on pace for its second monthly advance. Overall, it’s seen its fastest 21-day advance since February, the last time it was in the midst of vaulting toward records.

“It’s roaring back,” Meltem Demirors, chief strategy officer at crypto fund provider CoinShares, said by phone. Despite new regulatory scrutiny, “many investors perceive this as positive news and a positive catalyst because it’s clearing up a lot of the confusion or some of the uncertainty. And I think what’s being demonstrated as well is the crypto community is no longer some esoteric corner of finance.” " - Read Full Article

Source: aljazeera

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