LONDON: 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.
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Bitcoin climbed more than 6 per cent to briefly break $5,700, its highest since November 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 per cent.
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Other major cryptocurrencies such as ethereum and Ripple’s XRP, their prices are often seen as correlated to bitcoin, also moved higher.