Bitcoin jumps as much as 6 percent to new six-month high

Bitcoin jumps as much as 6 percent to new six-month high

Bitcoin jumped to a new six-month high on Friday in a move that traders said was the result of technical forces, with no immediate news catalysts sending the cryptocurrency higher.

A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration
A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/Files

LONDON: Bitcoin jumped to a new six-month high on Friday in a move that traders said was the result of technical forces, with no immediate news catalysts sending the cryptocurrency higher.

Bitcoin climbed more than 6 percent to briefly break US$5,700, its highest since November 14. It was last at US$5,680 on the Bitstamp exchange, taking gains this year for the original and biggest virtual currency to nearly 55 percent.

Other major cryptocurrencies such as ethereum and Ripple's XRP, their prices often seen as correlated to bitcoin, also moved higher.

(Reporting by Tom Wilson; Editing by Tommy Wilkes)

Source: Reuters

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