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 per cent 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.Bitcoin is inching back up after it slumped 52 per cent in the first quarter, its worst start of a year ever. There was also speculation that the trustee of failed exchange Mt. “As we discussed recently, we think capital gains related tax selling played a factor in the recent weakness (not the only crypto to fiat outflow driver, Mt Gox is another) and these pressures should be alleviating soon.”

Source: Economic Times April 14, 2018 00:00 UTC