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The Cryptocurrency Market is Exploding. Here's What You Need to Know.

The leading Cryptocurrency, Bitcoin, recently made headlines by climbing dramatically in value (it’s currently sitting around $2,600 USD, about 160 percent higher than its value in April).

After the billionaire entrepreneur claimed on Twitter that Bitcoin was in a bubble and not, in fact, a currency at all, the cryptocurrency dropped significantly in value, seemingly illustrating a fragile and unstable nature.

Whether due to historical precedent, a monopoly on investment, or simply an easily swayed investor pool, it seems pretty likely that this recent rise of cryptocurrencies will lead to some sort of drop.

As Brian Kelly, CEO and founder of global investment management firm BKCM, told CNBC , Bitcoin is “in the first years of what is likely to be a multi-year bull market.

“I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe Bitcoin does by itself,” Minneapolis Federal Reserve Bank President Neel Kashkari explained in a Reuters report .

READ MORE (Futurism)

  • Why digital currency exchange Coinbase eyes $1B valuationCBS News
  • Ethereum Price Closes on $400, Can it Take Over Bitcoin Soon?CoinTelegraph
  • Ethereum hits another record high after bitcoin and is now up over 5000% since ...CNBC
  • Bitcoin exceeds $3000 and Ethereum breaks $400BetaNews
  • Volatile day for bitcoin as it surges to $3000 then retreatsMarketWatch
  • Bitcoin price triples since start of year to break through US$3,OOOThe Star Online
  • Bitcoin nearly hits $3000 before plungingMarkets Insider
  • Ethereum Follows Bitcoin to Record High
  • Bitcoin's Price Crosses $3000 for the First TimeInvestopedia

This post first appeared on The 5th News, please read the originial post: here

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The Cryptocurrency Market is Exploding. Here's What You Need to Know.


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