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Bitcoin Explodes Above $7000.. Then Crashes $600

Courtesy of ZeroHedge. View original post here.

If you like your volatile cryptocurrency, you can keep your cryptocurrency…

image courtesy of CoinTelegraph

Following a seemingly endless stream of 'good news' – Bitcoin futures, Amazon rumors, Fork dividends, multiple nations moving towards adoption – Bitcoin exploded this mornng to a new record high $7354… up 29% for the week.

Then it crashed $650 to $6700…

Once again it seems Ether is being sold to fund the Bitcoin buys..


As CoinTelegraph notes, with Bitcoin’s increasing acceptance by Wall Street financiers and traders, the sky is quite literally the limit for the digital currency. While Bitcoin’s $116 bln market capitalization is large by the cryptocurrency world’s standards, it’s minuscule in comparison to the $639 tln derivatives market. If even the tiniest fraction of those funds were to enter Bitcoin, its value would be inconceivable.


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