RATE Group | cryptocurrency: Bitcoin breaches $10,000 to hit highest level since October
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cryptocurrency: Bitcoin breaches $10,000 to hit highest level since October

10 Feb cryptocurrency: Bitcoin breaches $10,000 to hit highest level since October

Posted at 08:48h in Cryptocurrency News by

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By Vildana Hajric and Joanna Ossinger


Bitcoin is back above $10,000.

The largest cryptocurrency’s recent upward momentum carried it past that psychologically significant level on Sunday for the first time since October, according to Bitstamp pricing. It rose as much as 4.3 per cent on Monday from Friday’s close to $10,163 according to Bloomberg pricing, capping a gain of about 40 per cent so far this year.

Bloomberg

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Its breach of five figures comes amid an equities rally that’s seen the S&P 500 Index reach new highs as fears abate that the coronavirus will dent global growth.

“The rally is a part of a broader appeal for risky assets as optimism grows that the coronavirus impact might be limited to the first quarter and on optimism that China will play nice with the US on phase-two trade talks,” said Ed Moya, senior market analyst at Oanda.

Cryptocurrencies have been on an upward trend all year, with some analysts and digital-asset enthusiasts suggesting they’ve benefited…

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