RATE Group | Bitcoin price: Trader thinks bitcoin price will soon RALLY | City & Business | Finance
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Bitcoin price: Trader thinks bitcoin price will soon RALLY | City & Business | Finance

07 Jun Bitcoin price: Trader thinks bitcoin price will soon RALLY | City & Business | Finance

Posted at 07:19h in Bitcoin News by

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Trader Jeff Kilburg, CEO of KKM Financial, said bitcoin will rally when high profile supporters “say something positive” about the cryptocurrency.

Speaking on CNBC, Mr Kilburg said: “All these people who want access and want allocation to cryptocurrency – that takes time to get those accounts open, so that’s happening.

“But right now, yes, there are cryptocurrency folks still driving around in New York in their Lamborghinis waiting for the price to go back above 8,000.

“But I think it is coming. It has been a slow-moving ship but there has been a quiet period.

“And we haven’t had a boost, we haven’t had somebody come out and really support – if it’s someone saying something positive – we just haven’t seen that in a while.

“I think the news cycle, which really drives bitcoin, is due for a pop.”

Bitcoin price stood at £7,605.11 at 11:30 (BST) on Wednesday, according to CoinDesk.

Bitcoin and other cryptocurrencies have faced criticism by banks and finance…

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