Bitcoin rose above $11,000 on Tuesday for the first time since January as it had previously taken a fall below 70 per cent since the beginning of the year.
The cryptocurrency has been surrounded by negative headlines since the start of this year.
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There have been incidents of hacks on exchanges while a Tokyo-based cryptocurrency was also involved in the theft of roughly $532.9 million.
Bitcoin has increased by 4.19 per cent on Tuesday.
Thomas Lee, the managing partner at Fundstrat Global Advisors, sees a new record peak for bitcoin by July, based on the currency’s 22 corrections since 2010.
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The original cryptocurrency gained more than 1,300 per cent last year, capped by a lifetime peak just shy of $20,000 on December 17.
“Bitcoin’s increase has coincided with the rally in global stock markets,” said Miles Eakers, chief market analyst, at FX brokerage Centtrip, adding that a sustained break above $10,000 could open the $12,000 level.
On the Luxembourg-based Bitstamp, bitcoin rose as high as $11,700 BTC=BTSP and was last at $11,511.
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