A Year After Bottoming Out at $3,100, Bitcoin Is Up 127%
By the end of May, though, bitcoin was looking overbought at highs near $9,000. The resulting pullback to $7,500, however, was short-lived, as prices surged to $13,880 in the 16 days to June 26. The near 90-degree rally occurred as the bitcoin market was pushed into a state of frenzy by Facebook’s announcement of its proposed cryptocurrency Libra.
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