Motilal Oswal
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Motilal Oswal
Currency

Rapid bitcoin rally cheers crypto market investors, others wary

Updated : May 15, 2019 08:55 AM IST

Bitcoin, which lost three-quarters of its value in 2018, has soared by 24 percent since Friday and more than doubled in price so far this year. At 1612 GMT it was up 0.8 percent at 7,874.
Some traders said investors moved money to bitcoin, treating it as a safe haven as traditional financial markets stumbled on fears that a worsening Sino-US trade dispute could derail the global economy.
Some traders said the prospect of major firms, including Starbucks, to accept digital money were fuelling hopes that bitcoin would gain use among mainstream consumers - something that has previously eluded it.
Rapid bitcoin rally cheers crypto market investors, others wary
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