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Bitcoin soared to the highest level in a year, extending a run that's seen prices more than double since March.
The largest cryptocurrency climbed as much as 10% Monday from levels late Friday, and was trading at $8,847 as of 10:25 a.m. in Tokyo. Rival coins were also stronger at the start of the week. Litecoin added almost 9% and Ether, the second largest digital token, rose 6%.
#Bitcoin #Etherium #Litecoin
Bitcoin soared to the highest level in a year, extending a run that's seen prices more than double since March.
The largest cryptocurrency climbed as much as 10% Monday from levels late Friday, and was trading at $8,847 as of 10:25 a.m. in Tokyo. Rival coins were also stronger at the start of the week. Litecoin added almost 9% and Ether, the second largest digital token, rose 6%.
#Bitcoin #Etherium #Litecoin
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NewsTranscript
00:00Bitcoin prices surged as much as 10% to the keenly watched $9,000 mark as investors bought
00:09into the cryptocurrency.
00:11They remember that on Monday it traded at about $8,800 per Bitcoin.
00:19Other alternate coins such as Litecoin and Ethereum rose about 9% to 10%.
00:24Bitcoin is up about 70% in the year so far, even as JP Morgan strategists have said that
00:29it has passed its intrinsic value.
00:31However, some analysts say that this intrinsic value concept is maybe not applicable to Bitcoin.
00:37Remember that Bitcoin hit a high of $19,000 in December 2017 as there was investor frenzy
00:44buying into the cryptocurrency.
00:46Indian equities staged an advance, extending gains for another session.
00:50The Benchmark Sensex rose about 0.5% while the Nifty rose about 0.4% and moved towards
00:57the all-time high.
00:59Investors have been hoping for more pro-good policies from the incumbent government headed
01:03by Narendra Modi.
01:05The US isn't ready to make a trade deal with China, this is according to the US President
01:09Donald Trump.
01:10Remember, this comment comes after the stalled negotiations between the US and China which
01:16are already into a trade war and US President Donald Trump has already increased the import
01:23tariffs on imports from China.
01:25That's it from us and thanks for watching.
01:27For more, you can log on to gulfnews.com slash business.