Anatoliy Knyazev, Co-Founder at EXANTE, commented on the Bitcoin dynamics for The Independent. As Bitcoin is hitting a new record high after a sudden surge on November 5, The Independent has been speculating on the crypto’s prospects.
The crypto boom is largely due to political and financial instability around the US elections and coronavirus. In the meantime, other cryptocurrencies have joined Bitcoin in its rally: Ethereum, Ripple and Bitcoin Cash all surged by 4 to 10 percent.
“In the last six months, Bitcoin has steadily revealed its profitability,” Anatoliy Knyazev told The Independent. “Though the Bitcoin value dropped in March, it has since added over 200 percent to its value in recent months.”
At the time of the publication, Bitcoin was trading above $15,000 - up from $5,000 in March and less than $5,000 short of the all-time high back in 2017.
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