Bitcoin Smashes $35,000, Derivatives Traders Are ‘Uncertain’


Bitcoin has set another record on Wednesday in the early Asian trading hours as the digital currency continued its bull run to go beyond the key $35,000.

This solid upward rally is significant as the prices soared from the $30,000 level to the new high in merely 24 hours, which is a daily gain of more than 16.6 percent. The digital currency is now testing this key level with strong signs of a bull run.

Bitcoin is having a wild upward run lately. Since the digital currency smashed the key $20,000 level last month, the prices soared at a tremendous rate: from that level to the fresh highs in around 20 days. For a contest, that is a gain of 75 percent in value.

Furthermore, SkyBridge’s Scaramucci warned about a possible Bitcoin bubble as the rising prices are creating a FOMO sentiment in the markets, which might lead to extreme profit booking.

“This could be a blow-up top bubble. We expect the fund to be volatile and it could lose money,” Scaramucci recently told CNBC. Interestingly, SkyBridge’s pitch to its Bitcoin fund investors called the original crypto “better at being gold than gold.”

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