Bitcoin is exploding higher despite fears that it would see a strong drawdown toward the $14,000-15,000 region. The coin currently trades for $18,800, which is a new year-to-date high and multi-year highs.
The coin is up 6% in the past 24 hours as buyers continue to flood in. Here are three reasons why the cryptocurrency could continue to rocket higher in the weeks ahead.
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First and foremost, Bitcoin is getting more support from Wall Street investors despite the fears that the cryptocurrency was a scam just years ago.
One CIO at Blackrock, one of the world’s biggest financial companies, announced this morning that he thinks cryptocurrencies are here to stay and that Bitcoin may replace gold. The coin proceeded to rally $500 after this segment on CNBC, suggesting it was somewhat correlated to this endorsement.
Blackrock was rumored to