Bitcoin holds above $7000 after hitting nine-month high

Source Trading View

The first digital coin broke $8,000 and touched $8,187 late on Monday before retracing towards $8,8030 by the time of writing.

Just hours after leaping 25% on Monday with no apparent explanation, the largest digital token added as much as 5.9% on Tuesday. Bitcoin's latest surge started Saturday, when the two US exchanges carrying futures are closed, making it potentially hard for short sellers to cover their wagers.

Bitcoin rose as much as 6.9% to US$7,445, before trading at US$7,323.86 as of 2:15 p.m. Hong Kong time on Sunday, according to Bitstamp.

But there is an ongoing blockchain and cryptocurrency conference in NY called Consensus, with big investors and influential market players gathered to network and discuss the current state of the industry.

One dead in Sri Lanka anti-Muslim riots following Easter terror attack
Sri Lankan Catholics pray during mass which resumed after the Easter Sunday attacks, at the "All Saints" Church in Colombo . All the windows and doors of the soft-pink building were smashed and copies of the Qur'an were thrown onto the floor.

It remains to be seen how many other penny stocks will incorporate "Bitcoin" into press releases. The likes of Fidelity Investments plans to buy and sell Bitcoin for institutional customers soon, and E*Trade is dipping into the trading space.

"The largest crypto gathering in the world is going on right now, Consensys, and there's Bakkt announced their futures product is going to be up and running in July", said Travis Kling, founder of the Los Angeles-based crypto hedge fund Ikigai. Bitcoin had also rallied during previous Consensus conferences. Readers are advised to do their own research before investing in Bitcoin or other cryptocurrencies.

According to data from Bitwise, which adjusts reported bitcoin spot volumes to account for fake volumes, the $1 billion plus worth of CME bitcoin futures volumes in the prior 24 hours was nearly double the bitcoin spot volume on Binance and triple volumes on Coinbase.

-With assistance from Olga Kharif and Kenneth Sexton (Global Data).

Related News:



Most liked

Firefighters rescue two people dangling from Oklahoma City skyscraper
Video from the fire department - taken from the ground - shows the basket swinging at about 8 a.m. Paramedics checked the workers out, CNN affiliate KOCO reported , and they refused treatment.

Leaders address online extremism in wake of Christchurch shooting
The world's largest social media companies are promising to take stronger action to prevent the spread of violent extremism online.

Video Released Shows Woman Pushing Elderly Man Off Bus, He Later Died
It's alleged she was argumentative with people on the bus and as the man stepped off she and him were involved in a dispute. The father of Bishop's son told police that Bishop was violent, and that he was no longer with her because of it.

Jedinak's Villa through to play-off final after shootout win over West Brom
West Brom won 1-0 on the night at the Hawthorns to level the tie at 2-2 on aggregate thanks to Craig Dawson's first half header. Jonathan Kodjia, meanwhile, will presumably be working on his dab in preparation for the final on May 27 at Wembley.

Student: Colorado School Shooting Suspect ‘Always Joked’ About Mass Shootings
Cecilia Bedard, 19, had known Castillo since elementary school and said he was always friendly, modest and excited to help people. An aspiring Marine, Bialy said the incident will give him the confidence to act when called upon when he begins service.

How much coffee is too much? Scientists decode
They looked at effects of coffee and tea drinking among Iranian populations on heart disease and kidney disease. Coffee may be a essential part of your day, yet you should be cautious and not over enjoy.

'Black Mirror' Gets Season 5 Premiere Date, Trailer at Netflix
We will have to wait for Season 5 of Black Mirror to find out what could happen when technology becomes a sinister force to mankind.

Whats new in iOS 12.3
Apple's new TV app is also rolling out via an update to tvOS (also numerated 12.3) on the company's Apple TV set top boxes. In the Home app on the iPhone , tap the house button in the upper-left corner, and under Speakers, tap Software Update.

Madonna, on Eurovision, says she won't bow 'to suit someone's political agenda'
Finish DJ Darude said artists behind the scenes of the festival were "slapping high-fives and having a good time". This year's contest is being held in Israel after the country's entry - Netta's song Toy - won the 2018 edition.

Jeremy Kyle show 'should be axed'
The broadcaster said that it will continue to work with Kyle on other projects, but has not yet specified what those will be. He was originally ordered to pay almost £6,000 in compensation to two finance companies in 1997 at Poole Magistrates' Court.

Europe rejects United States escalation strategy against Iran
Secretary of State Mike Pompeo speaks during the Arctic Council summit at the Lappi Areena in Rovaniemi, Finland May 7, 2019. Pompeo said that improved ties "will be good not only for our two countries but for the whole world as well".

Myanmar passenger jet lands safely after landing gear fails
The pilot ended up saving all 89 passengers on board as the plane managed to make an emergency landing , against the odds. Media reports say, this was second instanced of malfunctioning of a flight that has happened within a week in Myanmar .

Next Star Wars Movies Confirmed to Be from Game of Thrones Creators
Weiss arrive for the premiere of the final season of " Game of Thrones " at Radio City Music Hall in NY , U.S., April 3, 2019. Iger wouldn't comment on what their film will be about, when it will be set, or any additional details about its production.

Manchester City are technically brilliant and mentally formidable
Liverpool finished as Premier League runners-up for the third time, ending the season one point behind Manchester City . Being second in the Premier League is not exactly what I wanted but we have to see it as the first step for this team.

Alabama Senate heads toward vote on abortion ban measure
Abortion rights advocates have promised to challenge the controversial legislation if Governor Ivey signs the bill into law. Democrats didn't have the votes to stop the bill but tried to slow down proceedings during the debate.