Bitcoin surges past USD 8,000 to hit two month high

Bitcoin, the world’s best-known cryptocurrency, shot past $8,000 on Tuesday for the first time in two months on signs of growing institutional interest in virtual coins.

Recent reports about impending approval in the United States for a cryptocurrency exchange traded fund (ETF) have helped bolster demand recently, as have comments exchange-traded fund, ETF, by BlackRock’s Chief Executive Larry Fink last week that the world’s biggest investment firm was looking at cryptocurrencies.

Bitcoin rose to at high as $8,130 on the Luxembourg-based Bitstamp exchange, its highest since May 22. The prices of other digital currencies also edged higher but most remain lower than a week ago, according to Coinmarketcap.com.

After peaking at close to $20,000 in December, bitcoin has lost more than half its value in 2018 as institutional and retail interest has declined.

(Source)