Bitcoin Price Jumps $1k In 30 Minutes, Bitcoin Declared Legal In China And Alt-Coins On The Up — The Crypto2Cash Chronicle
Today’s most important and interesting crypto news, brought to you by the Crypto2Cash Team
Bitcoin Price Jumps $1k In 30 Minutes
The price of the largest cryptocurrency jumped by over $1,000 in just 30 minutes, early afternoon yesterday. This happened after Bitcoin was trading between $9,000 and $10,000 for a few days, slowly sliding downwards and trading at just $9,200 before the large jump. Some experts believe, that the rally is associated with the unwinding of some big short positions shortly before it started, as observed by Twitter account @WhaleCalls. Bitcoin is now trading at $10,350 and the next hurdle will be the $11,000 mark, if it manages to hold the current levels.
Bitcoin Declared Legal In China
Not only is the Bitcoin price up massively, yesterday brought even more positive news for the largest cryptocurrency. A Chinese internet court has officially recognized Bitcoin as a “virtual property with monetary value”, therefore setting the first step to decriminalize Bitcoin in China. Currently Bitcoin users from China still need to rely on VPN’s to access the network, but it seems like this could change in the future.
Alt-Coins On The Up
Bitcoin wasn’t the only virtual asset on the up yesterday. Alt-coins like Stellar or Bitcoin SV saw gains in the double digits, with the rest of the market showing gains between 5 and 12 percent. Litecoin continued it’s rise before the upcoming halving and is currently up 6 percent in the last 24 hours, very close to breaching the $100 mark, currently trading at $97.
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