The price of bitcoin is back above $ 50,000 as it recovers from one of the most severe declines in its history. The latest gains come as prominent investor Tim Draper presented his most positive predictions yet for the cryptocurrency.
Bitcoin was trading below $ 44,000 earlier this week, after hitting a record high the previous week above $ 58,000. Its rebound suggests that the third major price rally in its history may still be underway, with Mr Draper saying it has the potential to multiply by 100.
The venture capital billionaire first rose to prominence in the crypto community when he bought a batch of bitcoins confiscated from Silk Road founder Ross Ulbricht by the United States …
Read Additional From Source
Copyright @ www.independent.co.uk
- Headline: Bitcoin Price Bounces Above $ 50,000 As Top Investor Predicts Could Reach $ 5 Million
- Check all news and articles from the Cryptocurrencies news information updates.