Bitcoin has broken through the $7,000 (£5,383) mark after hitting its highest level in nine months over the weekend.
The advance comes only a few days after the digital asset broke through $6,000, and looks set to boost investor interest in conferences on the technology underlying the biggest crypto asset taking place in NY this week.
Bitcoin has jumped almost 40% in the past week and has more than doubled in the past year, driving speculation of a comeback to 2017 levels. 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.
David Thomas, of London-based cryptocurrency broker GlobalBlock, said the breaching of a key 6,000 US dollars support level last week had fueled interest among investors. This occurs when the 50-day simple moving average has crossed above the 200-day moving average.
It remains to be seen how many other penny stocks will incorporate "Bitcoin" into press releases. Cryptocurrency markets have previously fallen after high-profile security breaches.
Bitcoin rallied past $8,000, extending its longest winning streak since 2013 while giving fresh momentum to a cryptocurrency market that crashed only previous year.
- Aston Villa into playoff final after shootout win over West Brom
- Dauntless Coming to Consoles and Epic Games Store Next Week
- Hearing in Colorado school shooting delayed
- U.S. officer shoots and kills pregnant woman after trying to arrest her
- SF Bans Police From Using Facial Recognition Tech
- Apple revamps TV app for Samsung TV support, more direct channel subscriptions
- More than 800 cases of measles in the US
- Britney Spears may never perform again, her manager says
- Netflix will be talking games development at E3 2019
- Jets fire GM Mike Maccagnan; coach Adam Gase acting GM