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Bitcoin's Best Week of the Year Is Helping to Ease Plunge Pain

  • Cryptocurrency lost more than half its value in first quarter
  • End of tax-related selling, short squeeze seen as catalysts
Bloomberg business news
The Cryptocurrency Debate
Updated on

Bitcoin HODLers are seeing some light in the bear-market tunnel.

While it remains to be seen whether it’s the end of this year’s slump, the 20 percent gain over the last five days has them cheering. The largest cryptocurrency posted its biggest weekly advance since just before it peaked at almost $20,000 in December. Other large cryptocurrencies such as Ether, Ripple, Bitcoin Cash and Litecoin also gained.