Bitcoin's on a wild ride, but investors have shown it's here to stay, analyst says
Despite its recent price whipsaw, bitcoin has gained legitimacy with investors and is here to stay, according to Spencer Bogart, a partner and head of research at Blockchain Capital. Bitcoin has been on a jolting ride this year after soaring more than 1,200 percent in 2017. It rose 30.9 percent Thursday, to top $12,000 after plunging more than 30 percent earlier in the week. Other cryptocurrencies such as ripple, litecoin and ethereum, showed similar trading patterns. Bitcoin was trading around $11,570 later Thursday.