Bitcoin on Monday was mounting a comeback, rallying since touching a recent low in mid September as speculative purchases around the No. 1 cryptocurrency shifts into higher gear.
Where are crytocurrencies trading?
A single bitcoin was most recently trading at $4,712, up 2.2% on the day, but up around 60% since the world’s most prominent currency hit a recent low of $2,951.15, according to research and data site Coindesk.com. That nadir followed critical comments from Wall Street heavyweights, including J.P. Morgan Chase & Co. JPM, -0.53% Chief Executive Jamie DImon, who declared bitcoin “a fraud” that would “eventually blow up.” “It’s worse than tulip bulbs and won’t end well,” Dimon said, referring to the classic, 17th century asset bubble.