Bitcoin's Latest High Shows Bull Market's Sustained Strength

Bitcoin prices have continually hit fresh highs, showing the sustained strength of the cryptocurrency’s bull market. Bitcoin prices have risen notably following the August 1 hard fork. Photographer: Chris Ratcliffe/Bloomberg

Bitcoin prices keep hitting fresh highs, and this upward climb illustrates the sustained strength of the cryptocurrency’s bull market.

The price of bitcoin rose to as much as $3,586.23 earlier today, according to the CoinDesk Bitcoin Price Index (BPI).

Bitcoin, the world’s largest cryptocurrency by market capitalization, has been experiencing these continued gains in spite of concerns that the broader digital currency space may have entered bubble territory.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

‘No Bubble’

While many market observers have spoken to this possibility, Tim Enneking, managing director of Crypto Asset Management, has offered a frank assessment, stating simply that there is "no bubble."

Iqbal Gandham, UK Managing Director at eToro, a multi-asset broker and social trading company, offered a similar point of view:

"People will always speculate that we are in a bubble. Any asset class or even companies/concepts which behave irrationally with respect to pre-conceived ideas will be considered in a bubble."

However, he emphasized that Bitcoin has been resilient. Gandham said:

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Bitcoin prices have continually hit fresh highs, showing the sustained strength of the cryptocurrency’s bull market. Bitcoin prices have risen notably following the August 1 hard fork. Photographer: Chris Ratcliffe/Bloomberg

Bitcoin prices keep hitting fresh highs, and this upward climb illustrates the sustained strength of the cryptocurrency’s bull market.

The price of bitcoin rose to as much as $3,586.23 earlier today, according to the CoinDesk Bitcoin Price Index (BPI).

Bitcoin, the world’s largest cryptocurrency by market capitalization, has been experiencing these continued gains in spite of concerns that the broader digital currency space may have entered bubble territory.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

‘No Bubble’

While many market observers have spoken to this possibility, Tim Enneking, managing director of Crypto Asset Management, has offered a frank assessment, stating simply that there is “no bubble.”

Iqbal Gandham, UK Managing Director at eToro, a multi-asset broker and social trading company, offered a similar point of view:

“People will always speculate that we are in a bubble. Any asset class or even companies/concepts which behave irrationally with respect to pre-conceived ideas will be considered in a bubble.”

However, he emphasized that Bitcoin has been resilient. Gandham said:

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