A file photo showing a collection of Bitcoin (virtual currency) tokens are displayed recently — Reuters LONDON, May 13 (Reuters): Bitcoin hovered above $7,000 on Monday, close to nine-month highs, as the biggest cryptocurrency's 2019 rally gathered steam.
Bitcoin was last up 1.1 per cent at $7,056 on the Bitstamp exchange after soaring 14 per cent on Saturday - its second largest daily jump this year - to its highest since early August.
Analysts and traders said the outsized move over the weekend did not appear to be the result of any immediate news factors.
David Thomas, of London-based cryptocurrency broker GlobalBlock, said the breaching of a key $6,000 support level last week had fueled interest among investors.
© 2024 - All Rights with The Financial Express
