"Bitcoin is a bit like the immortal undead," says Bloomberg reporter

03 Apr, 2019 | Updated: 03 Apr, 2019
by Richard Allen
Bitcoin is a bit like the immortal undead, says Bloomberg reporter

Bloomberg reporter and editor, Eddie van der Walt recently sat down with Bloomberg to discuss the recent Bitcoin surge.

When asked what he thought sparked the rally, van der Walt stated that “Bitcoin is a bit like the immortal undead. Every time you think it's dead and buried, it just kind of jumps back out again.” However, he stated that there’s much speculation on what lead to the rally, but no one is sure what started it.

He adds that one theory behind the surge is CBOE closing their Bitcoin futures contract “which reduces the amount of venues that you have to short Bitcoin,” van der Walt states. Adding to this, Brian Kelly remarked in March that the end of CBOE futures may indicate a bottom for Bitcoin.

Read more: CBOE announces the halting of Bitcoin futures, may concede market to CME

Eddie van der Walt adds that the upcoming Bitcoin halvening may be another reason behind Bitcoin’s impressive performance. “Every time ahead of that you’ve seen in the past a bit of a rally,” he says. “But really, it’s a bit of a mystery.”

When asked about Bitcoin’s volatility, the Bloomberg reporter states that ahead of the rally, “people were talking about a drop in volatility as a potential sign that we could see a spike again. Bitcoin is not something that likes to stay put for a long time.”

"Bitcoin is a bit like the immortal undead. Every time you think it's dead and buried, it just kind of jumps back out again." from r/Bitcoin

Read more: Everything you need to know about Bitcoin's price pump

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