Bitcoin Finds Floor After Worst Selloff Since 2015
- Broad recovery follows plunge on Friday, surge in volatility
- Investors ‘hungry for volatile market’: ADM’s Ostwald
Bitcoin Exchange Contracts Problematic, Says Ira Epstein
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Bitcoin rebounded on Saturday along with most of the major cryptocurrencies, halting a four-day tumble that drew worldwide attention to the unregulated $500 billion market that’s frequently called a bubble.
The double-digit bounceback was strongest with second-tier digital coins. Bitcoin cash soared 21 percent and litecoin gained 12 percent as cryptocurrency traders regained optimism. They weren’t put off by comments published Saturday from a central banker in Germany that “the risk of rapid losses” is obscured in cryptocurrencies.