Bitcoin soars above USD 7200 after news of Square Inc. is testing a service that enables users of its cash payments app to buy and sell bitcoin

Many analaysts have different opinions about bitcoin. A DBS analyst said it is a ponzi scheme while Goldman Sachs predicting an $8,000 price target for the cryptocurrency.

Bitcoin regained it’s USD 7000 a coin just hours ago when reports of Jack Dorsey Square Inc. is testing a service that enable users of its cash payment app to buy and sell bitcoins. Credit Suisse research analysts opined that the increase “could place SQ in an early-mover position as a mainstream fin-tech company providing cryptocurrency services.” “SQ is also well positioned to enable crypto transactions at the physical point of sale,” they wrote.

This positive news has brought Bitcoin to another high and is now priced at USD 7255 per coin.

Learn how to trade Bitcoin on CFD on igmarkets


By Harry