Is Bitcoin back? The cryptocurrency goes $ 15,000

Bitcoin rose to more than $ 15,000 on Tuesday as traders in the world's largest digital division faced the downside in their five-day roller coaster crash.
The tokens increased 12 percent to $ 15,395 starting at 1:19 pm in London, the biggest gain on a closing basis in more than two weeks and the first in six days. The rival currencies Litecoin and Ethereum rose 4.4 percent and 2.6 percent, respectively, according to data compiled by Bloomberg.

The gains will be a welcome relief for investors, after Bitcoin declined by 26% in the five days to Monday in what was seen as an important test for the nascent digital currency industry. The breakthrough suggests that, even when financial authorities issue warnings about the risks of a bubble in the asset class, the interest of investors remains intact, at least for now.

Defeated by rivals
The answer to that question can determine the future of Bitcoin as a debate rages on the sustainability of the rally that has seen it gain more than 1,500 percent this year. Bulls argue that the nature of the cryptocurrency and the Blockchain technology behind it is a game changer for the world of finance, while the bears say it has no intrinsic value and the price movements show the characteristics of a bubble. speculative assets.

In the midst of the wild price rise of Bitcoin, attention is also turning increasingly towards the rival digital chips. Since the largest cryptocurrency hit a record $ 19,511 on December 18, it has actually performed less than its peers like Ripple and Ethereum.

Bitcoin is the crypto reference point, but not the best representation of technology, Mike McGlone, a Bloomberg intelligence analyst, wrote in a column on Sunday. An appropriate approach for institutional investors is probably the broader market, which includes "Forks" and second-generation derivatives, or 2G, that address Bitcoin's shortcomings, he said.

When the frenzy disappears, 2Gs should continue to earn in Bitcoins, according to McGlone. "Ethereum seems primordial to assume the state of reference, although the waves of the Bitcoins are broken and Litecoin is the main promising competitor," he said.

Terminal users can find price details using the following tickers:

XBT Curncy GP for Bitcoin
XRP Curncy GP for ripple
XET Curncy GP for the Ether
XLC Curncy GP for Litecoin

https://steemit.com/btc/@venomz/santa-claus-arrived-bitcoin-and-major-cryptocurrencies-gain-price