Bitcoin Prices Soar in May: Analyzing a Market’s Second Best Month of 2016

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With a cost of bitcoin appreciating nearly 20% in May and violation past $500 for a initial time given 2014, it’s protected to contend a digital banking is once again behind in a mainstream spotlight as an investment opportunity.

However, what might be many important is that a gains took place amid clever altogether sentiment. Data reveals a gains coincided with high long-short ratios and other indicators that view is branch strongly bullish as we enter a summer months.

But, while May’s cost convene might seem considerable due to a estimable media seductiveness it’s achieved, it was usually a fourth-largest monthly benefit in a final year, CoinDesk USD Bitcoin Price Index (BPI) information reveals.

As recently as Feb 2016, bitcoin gifted a incomparable monthly increase, when it posted a benefit of 18.92%.

By a numbers, May’s monthly benefit was somewhat reduce than that of February’s, when bitcoin prices rose from $367.14 to $436.61, an 18.92% increase. The May convene also fell brief of Nov 2015’s monthly gain, when prices climbed 20.64% from $312.43 to $376.91.

Overall, a digital banking climbed 18.35% in May, opening during $449.33 and shutting during $531.80, a second uninterrupted month in that it

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