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Don’t Expect Bitcoin to Die Off Anytime Soon

Don’t Expect Bitcoin to Die Off Anytime Soon

It’s only been a month since authorities took down Silk Road and a week since Liberty Reserve pleaded guilty to money laundering, but bitcoin’s recent rally signals one thing for certain: the digital currency has no intention of dying out anytime soon.

The very volatile bitcoin traded at fresh highs last week, closing on Friday at an all-time high of $349.99, according to Mt. Gox, the world’s largest bitcoin exchange.

“I continue to think bitcoin is the most fascinating finance story of 2013 and I think it will continue that way through 2014,” said Nick Colas, chief market strategist at ConvergEx.

From fighting off regulatory scrutiny, to being used as a conduit for crimes like illicit gun and drug sales and money laundering, bitcoin has racked up its share of black-eyes this year. Yet, it nevertheless continues to attract interest from investors.

 

Don’t Expect Bitcoin to Die Off Anytime Soon

By Jennifer Booton

Published November 11, 2013

FOXBusiness
  • Bitcoin
    BITCOI
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This entry was posted on November 11, 2013 by and tagged .

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