Bitcoin surged past the $20,000 barrier and was potentially heading for its best day in six months on Friday as the US dollar fell broadly and markets found reasons to be cheerful at the end of a dour week. Bitcoin, the biggest cryptocurrency by market value, rose more than 9% to $21,254, a two-week high. If it holds, the daily percentage gain would be the largest since late February. Ether, the second biggest, rose more than 5% to hit a three-week peak at $1,746. Bitcoin had been as low as $18,540 on Wednesday. Market participants said there was no particular trigger for the gains beyond a broad upbeat mood in evidence across asset classes on Friday, led by a drop in the safe-haven dollar and reinforced by positive moves in global shares.
Published in The Express Tribune, September 10th, 2022.
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