{"id":255503,"date":"2018-07-01T08:05:51","date_gmt":"2018-07-01T06:05:51","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=255503"},"modified":"2018-07-01T08:05:51","modified_gmt":"2018-07-01T06:05:51","slug":"bitcoin-is-on-the-march-again-as-it-jumps-back-above-6000","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/255503\/bitcoin-is-on-the-march-again-as-it-jumps-back-above-6000\/","title":{"rendered":"Bitcoin is on the march again as it jumps back above $6,000"},"content":{"rendered":"
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The weekend is offering some respite for Bitcoin investors.<\/p>\n

The bellwether of the cryptocurrency world rose 8% to $6,338.22 as of 5:30 p.m. in New York on Saturday, according to Bitstamp prices.<\/p>\n

The gain, which comes after the digital asset crashed through the $6,000 threshold last week for the first time since February, means the token has still lost about two-thirds of its value since reaching a record high of nearly $20,000 in December.<\/p>\n

Saturday\u2019s rise marks a pause from the jarring decline through most of 2018. It follows the increase of more than 1,400% last year as Bitcoin exploded onto the mainstream.<\/p>\n

The peer-to-peer currency developed after the 2008 global financial crisis traded at as little as 30 cents at the end of 2010.<\/p>\n

While it\u2019s difficult to identify specific catalysts for Bitcoin\u2019s decline, the bursting of a speculative bubble may be at the heart of the matter as questions about the long-term viability of the virtual currency and price manipulation abound.<\/p>\n

Bitcoin was \u201cvery much\u201d a bubble, Robert Shiller, the Nobel laureate economist whose warnings about dot-com mania proved prescient, said in an interview with Bloomberg Television\u2019s Tom Keene on June 26.<\/p>\n

Last year\u2019s surge was \u201cnot a rational response.\u201d<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: The graph that shows Bitcoin\u2019s rapid decline in 2018<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The weekend is offering some respite for Bitcoin investors.<\/p>\n","protected":false},"author":59,"featured_media":219467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537,26],"class_list":["post-255503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/255503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=255503"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/255503\/revisions"}],"predecessor-version":[{"id":255509,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/255503\/revisions\/255509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/219467"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=255503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=255503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=255503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}