RATE Group | Bitcoin Prices Rise To Highest Since October
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Bitcoin Prices Rise To Highest Since October

05 Feb Bitcoin Prices Rise To Highest Since October

Posted at 23:18h in Bitcoin News by

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Bitcoin prices rallied today, reaching a fresh 2020 high as the digital currency benefited from multiple tailwinds.

The cryptocurrency climbed to $9,745.17 at roughly 1:30 p.m. EST, according to CoinDesk price data.

At this point, the digital asset was up close to 7% in under 24 hours and was trading at its highest level since late October, additional CoinDesk figures show.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

When explaining bitcoin’s latest gains, analysts pointed to a range of factors.

“There are plenty of bullish narratives for bitcoin at the moment both fundamental and technical,” said Mati Greenspan, founder of Quantum Economics.

In terms of fundamentals, he cited developments like…

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