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News Link • Bitcoin

Bitcoin back above $10,000

• https://www.sovereignman.com, Simon Black

That's how my colleague Tama Churchouse explained the rapid innovation and massive volatility in bitcoin and other cryptocurrencies.

The technology is advancing so quickly that one year in the crypto sector is like seven years anywhere else.

And the price action reflects this breakneck pace.

Bitcoin returned 1,318% in 2017. The S&P 500, for comparison, returned less than 19%.

But bitcoin's rise comes with massive volatility…

After hitting its all-time high of nearly $20,000 on December 17, bitcoin plummeted 65% to $6,914 on February 5.

Yesterday, the price of bitcoin rose back above $10,000 – a 46% rally in just over one week.

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