Bitcoin up 9 percent, hits $4,000 for first time in two weeks

LONDON (Reuters) – Bitcoin rallied more than 9 percent on Thursday, hitting $4,000 for the first time in more than two weeks after losing half its value in six weeks to mid-December.

The world’s most valuable cryptocurrency has been hit hard this year, falling around 80 percent from a record high last December on concerns of increased regulatory scrutiny.

On Thursday, bitcoin gained as much as 9 percent at $4,030.15, its highest since Dec. 4, before retreating slightly.

 

Reuters

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Ed Moya

Ed Moya

Senior Market Analyst, The Americas at OANDA
With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business and Sky TV. His views are trusted by the world’s most renowned global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.
Ed Moya