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Bitcoin jumped about 10% against the dollar on Tuesday in just 20 minutes, with no obvious news to spur the price rise. Here's what analysts are saying about it.
The crypto boom is like the dotcom bubble but that’s not a bad thing: ‘Selling crypto now is like selling Apple in 2001’
Yoni Assia, the CEO of eToro, told BI this week: "95% are going to end as nothing because that’s startup funding." Many others in the industry agree. But those that do survive have the potential to be huge, he believes.
Analysts are variously blaming: concerns about regulation, light trading volumes in Asia, bitcoin futures, and an unsustainable price run-up for the crash.