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Bitcoin over $8,000: Reason for rally eludes cryptocurrency market

Bitcoin was last up nearly 17% at $8,131 on the Bitstamp exchange, the largest daily percentage jump since early April

Reuters  |  New York 

Bitcoin surged to more than $8,000 late on Monday, its highest level since July last year, as the cryptocurrency's rally gained further momentum. There is no real fundamental explanation as to why bitcoin, the original cryptocurrency, hit a 10-month high on Monday. But there is an ongoing blockchain and cryptocurrency conference in New York called Consensus, with big investors and influential market players gathered to network and discuss the current state of the industry. Bitcoin had also rallied during previous Consensus conferences. Bitcoin was last up nearly 17% at ...

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First Published: Tue, May 14 2019. 12:42 IST
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