Bitcoin just surged past $8,000, hitting its highest mark since last July. It tapered off slightly by mid-afternoon, but is still trading at its highest level in nearly a year. What's going on?
What's going on?Bullish experts say the strong showing could signal that bitcoin has a future as a worthy investment opportunity. But the currency's volatile and controversial history has prompted plenty of skepticism. Bitcoin has typically been regarded as risky, said Dan Held, co-founder of Interchange, a company that advises businesses on how to manage their crypto assets.
ignores the specific mechanics of this marketplace," said John Griffin, a finance professor at the University of Texas at Austin and one half of the duo that penned the paper on price manipulation last year. "It would not be a stretch nor surprising to find that manipulative activity is behind the recent runup when the underlying market mechanics are similar to before," Griffin added.Griffin isn't the only one with that suspicion.
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