RATE Group | Bitcoin Rises Above $10K for First Time in 25 Days as Protests Roil US Cities
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Bitcoin Rises Above $10K for First Time in 25 Days as Protests Roil US Cities

02 Jun Bitcoin Rises Above $10K for First Time in 25 Days as Protests Roil US Cities

Posted at 03:26h in Bitcoin News by

Bitcoin has risen above $10,000 for the first time in almost a month as protests in U.S. cities continue to intensify.

At around 23:05 UTC (7:05 p.m. Eastern Time), bitcoin (BTC) rose from $9,895 to around $10,429 over the course of 30 minutes as a new wave of volatility greeted the end of the daily closing period for June 1.

The large spike in BTC’s price comes as violence erupts on the sixth day of protests over the death of George Floyd at the hands of Minneapolis police. BTC has since cooled slightly and is currently changing hands for around $10,191, according to CoinDesk’s Bitcoin Price Index.

BTC’s price action was equally matched by a large injection of daily trading volume on the Bitstamp and Binance exchanges. Meanwhile, Coinbase suffered a temporary outage that had been resolved as of press time.

Bitcoin has been gyrating between $8,600 and $10,000 for a period of around 32 days and finally broke above the $10,000 psychological resistance in convincing fashion as…

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