Bitcoin Back Above $14,000

Bitcoin appeared to find a bottom Friday, rebounding above $14,000 after moves by South Korea to curb speculation and protect retail customers sent the cryptocurrency sliding yesterday.Bitcoin climbed as much as 8.3 percent tin Asian trading, before dropping back to trade 1.5 percent higher at $14,150 at 11:03 a.m. in London, composite Bloomberg pricing showed.The digital currency has slumped about 27 percent from its record $19,511 reached on Dec. 18, when CME Group Inc. introduced its futures contract. While bitcoin’s debut on regulated derivatives exchanges in Chicago was thought to have given it a new mainstream channel for investors to tap, so far trading volume has been limited.

Source: Bitcoin Rebounds Above $14,000 as Investors Find a Bottom – Bloomberg

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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