After sellout in last week bitcoin gained $1000 in a single day yesterday from around $7,500 to $8,424 up 2.8% on the day. At time of this post was written the price was around $8,370 (btc-usd) at Bitfinex.
It is still difficult to say whether these positive news will push bitcoin price further up or not but one thing is clear if the bull run returns, then expected price of the bitcoin will be rally soon.
Ahead of a meeting of G-20 finance ministers and central bankers in Buenos Aires, the FSB (Financial Stability Board), issued a statement mentioning that cryptocurrencies don't pose any near-term systemic risk to the global financial system.
“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” wrote Mark Carney, chairman of the FSB. The FSB is an international watchdog that makes recommendations about the global financial system.
However, the FSB news halted the skid, and major digital currencies followed bitcoin in recovering weekend losses.
Ether rose back above $500 over the weekend and was up 0.9% at $543.69, bitcoin cash is up 4% at $971.16, Litecoin is higher by 2.1% at $157.06, and Ripple is up 4.3% at $0.69.
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