RATE Group | Bitcoin’s big bounceback – can it continue?
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Bitcoin’s big bounceback – can it continue?

25 Jul Bitcoin’s big bounceback – can it continue?

Posted at 11:32h in Bitcoin News by

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Bitcoin © Getty Images
Bitcoin now stands at over $8,000

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In this week’s issue of MoneyWeek magazine

Bitcoin is the subject of today’s missive.

It’s enjoyed a 40% surge over the last fortnight. Has this rally got legs?

And what has China got to do with it all?

What’s driving bitcoin’s spectacular rally?

After a fairly abysmal May and June – which saw bitcoin fall by more than 40% as it slid from $10,000 to $5,700 – things have rather perked up for cryptocurrencies over the last few weeks.

Yesterday, bitcoin made its way through the $8,000 barrier. This morning it sits at $8,350. Its next technical hurdle is its 200-day-moving average at $8,600.

“Why is it…

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