Note from the Publisher: Our readers may notice that we write a fair bit about bitcoin and other digital currencies. As we have often said, whether or not our readers personally invest in this asset class or have clients that do, we still feel this is an important area of fintech and one that will have a far more profound economic impact in the future. Today’s post notes that the cryptocurrency bitcoin (remember, there are thousands of them – bitcoin is just the most commonly used and traded), saw a 10% increase in valuation this week. Our CEO also remains very bullish on bitcoin long term. Stay on top of this trend, folks, whether or not you currently choose to personally invest – or advise your clients to.
“The price of bitcoin rose close to 10% this week, pushing higher as bullish market sentiment and low liquidity created an ideal environment for gains.
The digital currency enjoyed notable increases during the week, surpassing $600 on Sunday, 4th September, while largely avoiding any significant pullbacks or corrections.
Sentiment is so strong “players are not willing to bet against the rise of BTC/USD,” according to Petar Zivkovkski, director of operations for Whaleclub.”