Bitcoin broke through $11,000 for the first time since January!!!!!!!!!!
Amazing:it breaks its record**
| Bitcoin broke through the $11,000 mark over the weekend for the first time since January. |
| Fears over tighter regulation, which was one of the catalysts for the recent crash, appear to have subsided. |
| Many commentators, including Ethereum Founder Vitalik Buterin, have warned that cryptocurrencies could fall to "near-zero" at any time. |
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Bitcoin broke through the $11,000 mark over the weekend for the first time since the end of January as its price continues to slowly rise following a violent sell-off at the start of the month.
The price of the cryptocurrency went as high as $11,279.18 on Sunday, its most elevated level since January 30, according to CoinDesk's bitcoin price index, which tracks prices from four major cryptocurrency exchanges.
On Monday, bitcoin was trading below $11,000, at $10,789, at around 9:30 a.m. London time (4:30 a.m. ET).
Bitcoin's price has been slowly climbing higher after a massive sell-off in early February, which was triggered by fears over tighter regulation, rumors of price manipulation in the market, and a hack on cryptocurrency exchange Coincheck that saw over $500 million stolen.
Bitcoin is up over 80 percent since it bottomed at $5.947.40 on February 6.
On the Otherhand
Ethereum founder warns
***Cryptocurrencies ‘could drop to near-zero at any time,’ ***
Cryptocurrencies are a nascent asset class and could fall violently at any time, the founder of blockchain network Ethereum warned on Saturday.
"Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time," Vitalik Buterin said on Twitter. "Don't put in more money than you can afford to lose."
Founder of Ethereum Vitalik Buterin
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Cryptocurrencies have recovered slightly from a severe sell-off which saw the market lose as much as $100 billion in market value in a single day.
- Bitcoin recovered to a price above $10,000 last week after falling as low as $5,947.40 the week before.*
Don't invest in cryptocurrency now
I think this is the worth time of cryptocurrency