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Bitcoin jumps 9% to touch 12-day high By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A representation of Bitcoin in front of a stock chart in this illustration, taken on January 8, 2021. REUTERS/Dado Ruvic/File Photo

LONDON (Reuters] -Bitcoin’s gains extended on Friday. It climbed over 9% in early morning trade, to $47.800. This is the highest level it has seen in 12 days.

Last up 7.9%, at $47.263, was the largest cryptocurrency. If maintained, it would have been its biggest one-day increase since June.

The smaller coins, ether, and were both up by 7% and 5.5%, respectively.

Joseph Edwards from Enigma Securities London was head of research and cited spikes on cryptocurrency derivatives exchanges to be a potential driver. Derivatives trading often influences spot prices in bitcoin markets.

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