Bitcoin has rebounded 6.6% to the $8,250 area
Bitcoin has rebounded 6.6% to the $8,250 area bucking the downtrend after mostly successive declines from highs near $20k in late-2017. This followed relatively open minded and paternal testimony from CFTC Chairman Giancarlo that analysts owe it to the next generation to take a thoughtful and balanced view of virtual currencies, even while cracking down hard on those who seek to abuse their enthusiasm with fraud and manipulation. This contrasted a Goldman research piece that most cryptocurrencies are unlikely to survive, even if the blockchain technology lasts. This was mostly lost in the shuffle over the primary focus on volatility in the stock market, which may have made Bitcoin appear safer by comparison for a day or two compared to the XIV, which suffered an existential crisis yesterday. Bitcoin has ranged from 8,649-6,800 so far today.