Cryptocurrency
Bitcoin Breaks Above $7,000 Again Amid Wider Risk-On Rally
As reported on Bloomberg, “As risk assets regain their mojo amid optimism the coronavirus spread is beginning to level off, Bitcoin’s back above $7,000. “The largest cryptocurrency gained as much as 6.4% Monday to $7,193, its highest in nearly a month. That’s its biggest one-day gain in two weeks and caps a near 11% rally for […]
As reported on Bloomberg, “As risk assets regain their mojo amid optimism the coronavirus spread is beginning to level off, Bitcoin’s back above $7,000.
“The largest cryptocurrency gained as much as 6.4% Monday to $7,193, its highest in nearly a month. That’s its biggest one-day gain in two weeks and caps a near 11% rally for Bitcoin so far in April.
“’Risk-on mode was evidenced across both crypto and non-crypto markets, as market participants reacted positively to signs that coronavirus outbreaks have started to stabilize in some of the worst-affected countries,’ said Denis Vinokourov, head of research at Bequant, a London-based digital asset firm. ‘For Bitcoin, it was more of a continuation of the trend that started last week, and, this time, Bitcoin’s attempt to break above $7,000 was much more resolute.’”