CRYPTO INSIDER: Bitcoin is rebounding


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The price of bitcoin surged more than 10% early Tuesday, as the volatile cryptocurrency recouped losses from the previous day.

Here’s the scoreboard as of Friday morning:

What’s happening:

  1. TOM LEE: Bitcoin just had a much-needed pullback and is quickly headed back to $US20,000. The recent plunge in bitcoin‘s price has cheapened the cryptocurrency and created another buying opportunity for traders, according to Lee.
  2. Morgan Stanley says the true price of bitcoin might be zero. Morgan Stanley analyst James Faucette and his team sent a research note to clients a few days ago suggesting that the real value of bitcoin might be … $US0.
  3. We talked to Charles Schwab’s investment strategist about what 2018 holds for equities, the Fed, and bitcoin. “The big question about bitcoin is, is it a bubble?” Jeffrey Kleintop, Charles Schwab’s chief investment strategist, told Business Insider.
  4. Bitcoin is surging towards a serious mining problem – and no one knows what will happen when it gets there. Business Insider UK spoke with University of Cambridge Research Fellow Garrick Hileman about cryptocurrency mining and the potential problems that it could bring in the future.
  5. A certified financial planner explains just how risky of an investment bitcoin is. Bitcoin has been soaring in value at times, but crashing at others. Lauren Lyons Cole, a certified financial planner and senior editor at Business Insider, explains the risks of investing in cryptocurrency.

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