RATE Group | Bitcoin climbs to six-week high as market sentiment improves
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Bitcoin climbs to six-week high as market sentiment improves

25 Apr Bitcoin climbs to six-week high as market sentiment improves

Posted at 07:12h in Bitcoin News by

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NEW YORK (Reuters) – Bitcoin rose to a six-week high on Tuesday on positive headlines that included the possible entry of major financial institutions into the space, lifting sentiment on the overall cryptocurrency market.

FILE PHOTO: A token of the virtual currency Bitcoin is seen placed on a monitor that displays binary digits in this illustration picture, December 8, 2017. REUTERS/Dado Ruvic//File Photo

The virtual currency gained after a brutal 50 percent loss in the first quarter of the year, following a nearly 1,400 percent surge in 2017.

On Tuesday, bitcoin climbed in six of the last seven sessions. It was last up 4.4 percent at $9,340.88 on the Bitstamp platform.

Bitcoin’s gains also increased demand for other cryptocurrencies such as ripple and ethereum, pushing the market capitalization of all digital currencies to $427 billion, according to cryptocurrency tracker coinmarketcap.com. That is the largest market cap since early March.

“The space has remained relatively…

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