Source: CoinDesk <\/p>\n
The digital currency has had a stellar year, rising by more than 200 percent and easily outperforming stock market benchmarks like the S&P 500 index and the Nasdaq composite in 2017. The cryptocurrency has now more than tripled in value since trading at $968 on Dec. 31, and has gained nearly 30 percent in June alone. <\/p>\n
Bitcoin in 2017 <\/p>\n<\/p>\n
Source: CoinDesk <\/p>\n
Brian Kelly, CEO and founder of BKCM and a CNBC contributor, told CNBC this week that the cryptocurrency was \"in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay.\" <\/p>\n
A contributing factor to bitcoin's recent surge is growing demand from Asia. In addition to the China factor, Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April. <\/p>\n
Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it \"has more potential than bitcoin itself.\" <\/p>\n
CNBC's Fred Imbert contributed to this report. <\/p>\n
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Here is the original post: Source: CoinDesk The digital currency has had a stellar year, rising by more than 200 percent and easily outperforming stock market benchmarks like the S&P 500 index and the Nasdaq composite in 2017. The cryptocurrency has now more than tripled in value since trading at $968 on Dec Continue reading
\nBitcoin bulls runs wild as cryptocurrency surges above $3,000<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"