By CCN: The bitcoin price stumbled toward the end of the week but it looks like the bulls have gotten it together. BTC is now moving higher by nearly 7% to approximately $7,800 at last check on CoinMarketCap. The price had fallen as low as approximately $7,000 on Friday, and some traders have been calling for the bottom to fall out. It seems as though that won’t happen, at least not today.
| Source: CoinMarketCap
Even though the sudden reversal came suddenly and seemingly disrupted some weekend plans, nobody on Crypto Twitter was complaining.
BTC on the move again.
— Mati Greenspan (@MatiGreenspan) May 19, 2019
Morgan Creek Capital Management CEO Mark Yusko points out that “bitcoin never sleeps,” which certainly paves the way for the rally.
BOE Official Suggests Bitcoin Could Replace Cash
There is a thread making the rounds on Reddit about a UK central banker coming to terms with the rise of bitcoin. According to the Reddit thread, Bank of England Chief Economist Andrew G. Haldane spoke to college students on May 17 and the topic of bitcoin came up. He was refreshingly open-minded. The Reddit member explained: