Industry commentators are praising Bitcoin’s “resilience” as BTC-e and SEC events fail to shake prices.
In a statement broadly reflective of the current mood in cryptocurrency, entrepreneur and investor Alistair Milne said even more “bad news” would see prices expand beyond $3000.
“Resilient is an understatement,” he added about the Bitcoin price.
At this point any further "bad news" for Bitcoin is likely to send it through $3000— Alistair Milne (@alistairmilne) July 26, 2017
Resilient is an understatement
Bitcoin has managed to weather the current storm surrounding renewed chances of a hard fork in addition to the BTC-e press exposure.
Bitcoin Cash, a new fork unveiled only a week ago, has already become a major talking point throughout the industry, receiving support from some exchanges and businesses.
Roger Ver has also appeared to endorse the concept should it come into being on August 1.
Milne meanwhile noted that for all the current events, Bitcoin’s price behavior was changing for the better.
Bitcoin appears to have confirmed prior resistance is now support (even with extreme FUD) pic.twitter.com/eqGafKLYoe— Alistair Milne (@alistairmilne) July 27, 2017
Ethereum too showed signs of strength against the SEC’s remarks on ICO and DAO tokens this week, shifting only slightly despite its Blockchain being the main platform involved in token distribution and hosting.