Cryptocurrencies
Bitcoin Surpasses $11,000 as Memories of Popped Bubble Fade
- Digital coin has retraced more than half of historic increase
- Facebook’s push into crypto has helped to reinvigorate demand
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Bitcoin traded above $11,000 for the first time in 15 months, recouping more than half of the parabolic increase that captured the attention of mainstream investors before the cryptocurrency bubble burst last year.
“The bounce-back of Bitcoin has been fairly extraordinary,” said George McDonaugh, chief executive and co-founder of London-based blockchain and cryptocurrency investment firm KR1 Plc. “Money didn’t leave the asset behind, it just sat on the sidelines waiting to get back in.”