Bitcoin climbed back above $18,000 last week to flirt with record levels, a spectacular rally driven by a new group of buyers seeking the opportunity for big profits.<\/p>\n
The digital currency traded as high as $18,965 on Friday, according to CoinDesk, about 4% below its all-time high of $19,783 set in December 2017. It has surged more than 50% in the past month alone.<\/p>\n
The rally has attracted a wide cast of characters, from the Wall Street billionaires Paul Tudor Jones and Stanley Druckenmiller to momentum investors who aim to ride winning assets higher and losing markets lower.<\/p>\n
Their participation, in turn, has fueled more buying, which mirrors a similar dynamic playing out in stocks such as Tesla Inc., which investors keep pushing higher with little regard for fundamentals. As in 2017, when bitcoin became a cultural phenomenon, much of the hype has traveled by word-of-mouth.<\/p>\n
Lately, bitcoin has even been a winning topic on sports radio. Gregg Giannotti, co-host of the Boomer & Gio morning sports-talk radio show on WFAN in New York, has been talking up the cryptocurrency on the air after investing $10,000 earlier this month.<\/p>\n
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More here: Bitcoin climbed back above $18,000 last week to flirt with record levels, a spectacular rally driven by a new group of buyers seeking the opportunity for big profits. The digital currency traded as high as $18,965 on Friday, according to CoinDesk, about 4% below its all-time high of $19,783 set in December 2017. It has surged more than 50% in the past month alone. Continue reading
\nBitcoin Trades Again Near Record, Driven by New Group of Buyers - The Wall Street Journal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"