08 Jan '18, 11pm

'Get ready for an explosion' in bitcoin as Wall Streeters spend their bonus checks

Lucas Jackson/Reuters Wall Streeters are getting their bonuses soon. The director of the Digital Currency Group predicts a bitcoin "buying frenzy" when the bonuses hit. Many market observers expect the crypto markets will have sharp spikes up and down this year compared to 2017. A few weeks ago the bitcoin traded at more than $20,000, and at the end of 2017 the price dropped to around $11,000. This was followed by a rebound again, with bitcoin hitting about $16,500 on Saturday. Meltem Demirors, director of the Digital Currency Group — an investment company which invests in currencies and crypto blockchain businesses — believes renewed momentum is on its way as Wall Street bonus season hits. "If the bonuses of Wall Street on January 15 on the bank accounts countries, we will see a buying frenzy on the crypto market of epic proportions," Demirors wrote on Twitter earlier thi...

Full article: http://www.businessinsider.com/bitcoin-price-explosion-wa...

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