 |
© Provided by Tech Insider
|
Bitcoin is at another fresh all-time high. The cryptocurrency trades up 7.2%, or almost $95, at $1,411.05 as of 12:04 p.m. ET. It hit an all-time high of $1456.35 earlier on Monday.
The advance comes with no specific
catalyst, but has trade on track for its 10th gain in 11 sessions. Bitcoin has
been moving higer over much of the past week following news that the US Securities and Exchange Commission will reconsider
the Winklevoss ETF.
Back in March, the SEC rejected plans for
two bitcoin ETFs, saying it "is disapproving this proposed rule change
because it does not find the proposal to be consistent with Section 6(b)(5) of
the Exchange Act, which requires, among other things, that the rules of a
national securities exchange be designed to prevent fraudulent and manipulative
acts and practices and to protect investors and the public interest."
Bitcoin has had a wild start to 2017. It
gained 20% in the opening week of the year before crashing 35% on fears China
would crack down on trading. Since then, it has rallied more than 80%,
shrugging off the crack down in China, the SEC's rejection of two bitcoin ETFs,
and fears developers could set up a "hard fork" that would split the
cryptocurrency in two.
Not all of the news surrounding bitcoin
has been negative.
At the beginning of April, Japan's
financial regulators said that bitcoin was now a legal payment method in
the country, and days later Russia said it would consider bitcoin and other
cryptocurrencies in 2018.
Bitcoin has been the top-performing
currency every year since 2010, aside from 2014. It's up about 44% so far this
year.
No comments:
Post a Comment