Published On: Tue, Apr 10th, 2018

‘Infectious Disease’: Bitcoin Prices Claw Back Ground As China Beats Bank FUD

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Bitcoin prices bounced off weekly lows Tuesday as mixed news failed to take markets closer to 2018’s floor below $6000.
Bitcoin Returns To Test $7k From Below
Data from across major exchanges shows Bitcoin beginning to reverse on downward selling pressure which saw prices drop $400 in around an hour April 9.
At press time, BTC/USD was climbing towards $6900 as analysts eye the $7000 barrier as a critical level to hold to avoid further slides.
Regulatory moves worldwide are impacting prices significantly this month, sources say, while traditional finance criticism continues to call the much-hyped end of the so-called ‘Bitcoin bubble.’
In fresh comments April 10, analysts at UK bank Barclays likened Bitcoin to an “infectious disease,” claiming its rapid price gains in late 2017 were a result of interest spreading between prospective investors.
Speaking about subsequently lower prices in 2018, they said:
This occurs with infectious diseases when the immunity threshold is reached; ie, the point at which a sufficient portion of the population becomes immune such that there are no more secondary infections.
The perspective is particularly curious in light of a recent partnership between Barclays and the US’ biggest cryptocurrency exchange Coinbase to facilitate cheaper and faster …

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