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“Trajectory of Bitcoin is Remarkable but does the Increase in Market Value make it more Credible?”, Market Commentary, ayondo
“Trajectory of Bitcoin is remarkable but does the increase in market value make it more credible?”
Jordan Hiscott, Chief Trader at ayondo markets
“Bitcoin’s success from an investment perspective continues as the cryptocurrency reaches yet another high. Up over 500% just this year, to a new limit of $6,252, the asset’s trajectory is nothing but remarkable. Weekend trading in Bitcoin is statistically more volatile than activity during the week, and this seems the initial catalyst for the move up, before sustaining itself early on Monday morning.
“It’s becoming somewhat repetitive to discuss new highs for the asset, as they occur so regularly. But does the increase in its market value, now to more than $100 billion, give it more credibility? I’m not certain on this, however, awareness of the asset has never been greater. Data from Google Trends confirms that searches for the term ‘Bitcoin’ are nearing all-time highs, but whether this means the product will become more mainstream is yet to been seen.”
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