RATE Group | Bitcoin is back — but can the comeback last?
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Bitcoin is back — but can the comeback last?

15 Nov Bitcoin is back — but can the comeback last?

Posted at 20:17h in Bitcoin News by

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Bitcoin is back -- but can the comeback last?

Copyright 2019 CNN

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(CNN) – Bitcoin, which recently celebrated its eleventh anniversary, has surged this year. Prices have more than doubled to around $8,500 in 2019.

Bitcoin has enjoyed a nice rally in recent weeks as well, even as skepticism about Facebook and and its Libra cryptocurrency mounts in Washington and Europe.

It appears that bitcoin fans are not worried about what will happen to Libra. The mere fact that Facebook has shown such interest in cryptocurencies is being viewed as validation for bitcoin and other forms of digital payments.

The prices of leading rival cryptocurrencies to bitcoin, such as ethereum, litecoin and EOS have all rallied this year as well.

So is the bitcoin comeback for real? Investors can be forgiven if they are more than a bit skeptical. Bitcoin and other cryprtos have staged monstrous rallies before — only to have them quickly go poof.

What’s more, bitcoin is still well below the…

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