BITCOIN’S recovery is expected to gather pace today after the fleeting return to $8k yesterday afternoon. One expert has claimed that “institutions, hedge funds and big investors” are “waiting for the right time to step in” and the price will rise to reflect their confidence.
0.59 – UPDATE – Good day for cryptos
According to CoinMarketCap, only three out of the 100 cryptos they cover are down.
20.41 – UPDATE – Brit extradited to US after being accused of defrauding bitcoin investors
Morocco has extradited a Brit to the US following the accusation of the British national defrauding investors in a venture revolving around bitcoin.
Renwick Haddow was was arrested by Moroccan authorities in July and held for nine months.
William Sweeney Jr., assistant director-in-charge of the FBI’s New York office, announced Friday that Haddow had been sent to the US. The US Securities and Exchange Commission (SEC) filed fraud charges against Haddow last year as they claimed his bitcoin store was misleading investors.
18.26 – UPDATE – Nobel prize winner sees bitcoin more as an experiment
Robert Shiller, professor of economics at Yale University and winner of the Nobel Prize for economics views cryptos as more of a psychological experiment than a serious investment.
Mr Shiller said: “I’m interested in bitcoin as a sort of bubble. It doesn’t mean that it will disappear, that it’ll burst forever. It may be with us for a while.
“To me, it’s interesting as another example of faddish human behavior. It’s glamorous.”