BITCOIN found its bottom value last week after prices dropped to $6,000 before today hitting highs of more than $11,000.
The price of Bitcoin sailed past $11,000 this morning as it recovered 88 percent of losses from its previous February low, which biggest trader believe that cryptocurrency make bottom.
at today according to
CoinDesk’s Bitcoin Price Index (BPI) highlights a peak up to $11,279.18 (£8,068.54) - the first time the currency has broken through the $11,000 mark since January 29.
Investors remain cautious after Bitcoin plunged to $5,947.40 (£4,254.18) at the beginning of the month on Feb 6, but hope remains that BTC has reached a stable bottom at $6,000 (£4,292.09).
Bitcoin is not without its critics, as Governor of the Bank of England, Mark Carney, told students at Regent’s University, London.
Mr Carney rejected Bitcoin as a currency, saying it had “pretty much failed” in comparison to other currencies, with no real-world value to buy items.
He said: “It has pretty much failed thus far on… the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium exchange.”
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