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

Contributing Author at OANDA
With more than 20 years’ trading experience, Ed Moya was a Senior Market Analyst with OANDA for the Americas from November 2018 to November 2023.

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. Prior to OANDA 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, cheddar news, and CoinDesk TV. His views are trusted by the world’s most respected global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Seeking Alpha, The New York Times and The Wall Street Journal.

Ed holds a BA in Economics from Rutgers University.