Bitcoin Rebounds Over 50% From Recent Lows; $100,000 In Sight?

Out are predictions that bitcoin would retest $20,000 amid a slew of negative headlines that many said would push it lower and back in vogue are calls for the coin to rally to all-time highs

Bitcoin to $100,000. Bitcoin to the moon. Bitcoin to infinity. The world's largest cryptocurrency is staging a comeback that has taken it up more than 50 per cent from recent lows, reviving animal spirits and coaxing out sky-high price targets that, while a source of comedy for some, emerge when the asset is rallying. It's inevitable. #Bitcoinpic.twitter.com/Rs4yOgA1Hs Out are predictions the digital currency was ready to retest $20,000 amid a slew of negative headlines that many said would push it lower. Back in vogue are calls for the coin to keep rallying again to its all-time highs and beyond. And there are plenty of superlatives to mark the moment: Bitcoin is up four weeks straight and is on pace for its second monthly advance. Overall, it's seen its fastest 21-day advance since February, the last time it was in the midst of vaulting toward records. It traded at $45,781 as of 5:42 p.m. in New York. "It's roaring back," Meltem Demirors, chief strategy officer at crypto fund provider CoinShares, said by phone. Despite new regulatory scrutiny, "many investors perceive this as positive news and a positive catalyst because it's clearing up a lot of the confusion or some of the uncertainty. And I think what's being demonstrated as well is the crypto community is no longer some esoteric corner of finance."