After days of stagnating, both Bitcoin and Ethereum have registered strong gains over the past 48 hours.
Ethereum posted an intense breakout rally yesterday that allowed it to set fresh local highs.This rally came about rather suddenly, with it coming about prior to any movement seen by Bitcoin or the aggregated crypto market.
Earlier this week, major investment firm Goldman Sachs held a client call where it denounced Bitcoin and other cryptocurrencies as “not an asset class” and blasted its use as an investment vehicle.
Bitcoin jumped above $9,500 in midday Thursday trading. The gains sustained on safe-haven bids Friday as tensions between the U.S. and China escalated further.