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Bitcoin is surging into Boxing Day

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Bitcoin is surging into Boxing Day
Edoman Offline
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#1
12-26-2017, 02:20 PM
[Image: btc1.png] Markets Insider
  • A bitcoin was worth $15,338 at 8.20 a.m. GMT on Boxing Day.
  • The cryptocurrency is up more than 10%, recouping losses from the previous day.
  • Its value has fallen sharply over the past week, and has been declining more modestly since.

The price of bitcoin surged more than 10% on Boxing Day to $15,338, as the volatile cryptocurrency recouped losses from the previous day, according to data from Markets Insider.
The cryptocurrency had lost almost 2% of its value on Christmas day. The movement was a modest lost after much sharper gains earlier in the week, when bitcoin plummeted from an all-time high of $19,843.
A bitcoin bought on January 1, 2017 has increased in value more than twelve-fold, despite the late December drop.
Here's the chart for Boxing Day morning:
[Image: btc1.png] Markets Insider
The currency is difficult to value with any objective criteria, and traditional investors remain very wary of it.
Business Insider highlighted a note from investment analysts at Morgan Stanley, which suggested that bitcoin may soon have a practical value of nothing. 
Analyst James Faucette highlighted the tiny number, and declining, number of retailers prepared to exchange bitcoin for actual goods, which could spell a rocky future. Faucette said bitcoin is not like a currency, it's not like gold, and it has had difficulty scaling.


http://www.businessinsider.com/bitcoin-p...2017-12?IR=
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