The price of bitcoin got a small relief bounce this week as investors hoped that the worst of the crypto liquidity crisis is over. By Friday, bitcoin had risen about 11pc for the week and is on pace for its best week since October, according to Coin Metrics. The price rose as high as $22,478.37 at one point, climbing back from a low of about $17,000 in June. It last traded more than 1pc higher on the day at $21,903.00, around 11:30 a.m. ET, according to CoinMetrics. The market contagion could spread into smaller crypto exchanges or funds, Hartmann added, but there aren’t any bigger, more impactful dominoes left to fall. If the crypto industry can go a month without bad news or insolvencies, he said, it’s “very likely” that that market could double.
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