Bitcoin, BTC, Price Rallies Toward Multi-Year High

Disclosure: The author holds a small amount of bitcoin.

The price of bitcoin (BTC), appears ready to challenge multi-year highs printed on December 15, 2015. As of 12:30 p.m. EST the cryptocurrency was quoted at $438.50, up $13.97 or 3.29 percent in Saturday trade.

Bitcoin, and the accompanying blockchain technology, was created in 2009 by a software developer known only as Satoshi. The Inquisitr has reported previously on Craig Steven Wright, and others, who have been linked to the pseudonym, yet no one has ever convincingly claimed to be the mysterious Bitcoin creator.

The price of bitcoin skyrocketed in 2013 to near $1,200 before plummeting to near $150 by mid-2014. Since then, bitcoin prices have backed and filled in a constructive fashion, and made repeated attempts to break-out of a cup-shaped continuation pattern, as first described by William J. O’Neil, the founder of Investor’s Business Daily.

The price of bitcoin is rallying toward multi-year highs.
[Chart Courtesy of Venngage]

Fortune reported on reasons for and against investing the start-up digital currency in December, 2015.

It is

Read more ... source: TheBitcoinNews