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

Published 05/03/2019, 05:38 AM
Updated 05/03/2019, 05:40 AM
© Reuters. FILE PHOTO: Representation of the Bitcoin virtual currency standing on a PC motherboard
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By Tom Wilson

LONDON (Reuters) - 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 $5,700, its highest since Nov. 14. It was last at $5,680 on the Bitstamp exchange, taking gains this year for the original and biggest virtual currency to nearly 55 percent.

© Reuters. FILE PHOTO: Representation of the Bitcoin virtual currency standing on a PC motherboard

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

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