Bit-comment: Bitcoin returned to this week highs

Bitcoin traded near $9300 on Thursday morning, returning to this week highs area. Interest in the crypto market is fuelled by discussions of a new Facebook project Libra. As is usually the case, the discussion in the media supports interest and the quotes for the sector.

In addition, investors seem to strengthen their positions after the rollbacks, assuming that the rally will continue, and the correction by a few per cent was a convenient reason to buy the desired asset a little cheaper.

And yet it is worth noting that the Facebook project met with a very cold reception. The sign of 2017 was not only the crazy cryptocurrency rally but also the sobering attitude of regulators. Obstacles to the universal use of cryptocurrencies seriously cooled the ardour of market participants. And this situation, apparently, can repeat. Maybe this is not a reason to sell the bitcoin, but a point to think about the prospects for the coming years.

The FxPro Analyst Team