RATE Group | Bitcoin price surges to two-month high after heavy recent decline
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Bitcoin price surges to two-month high after heavy recent decline

24 Jul Bitcoin price surges to two-month high after heavy recent decline

Posted at 02:58h in Bitcoin News by

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The price of Bitcoin has hit a two-month high. The cryptocurrency’s value has shot up over the past week, and has surged past the $7000 mark for the first time since early June.

It’s worth $7730 (~£5900) at the time of publication, according to the Coinbase exchange. The last time it was worth this much is May 23 − exactly two months ago.

Related: What is Bitcoin?

So far, 2018 has been a pretty demoralising year for Bitcoin holders.

It was worth more than $13,400 at the beginning of January, and few would have expected its price to plummet quite as dramatically as it did over the following months, despite the significant wobble we saw just before Christmas.

Bitcoin has a reputation for being wildly unpredictable, yet the steady decline we’ve witnessed over the first half of this year − driven largely by high-profile heists and scams − has come to feel like the norm.

As a result,…

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