Bitcoin retreats after hitting record high level of $2,185
|Bitcoin extended its recent monstrous rally and surged through $2,000 and $2,100 mark on Monday. The cryptocurrency traded as high as $2,185, gaining in excess of 9.0% for the day, before paring some of its strong gains and retreat back below $2,100 mark.
The recent up-surge over the past one month, from $1200 neighborhood, was led by a rise in trading activity in Japan on news that bitcoin would be considered as 'legal tender' in the country. Today's strong up-move also attributed to a fresh wave of greenback selling pressure, with the key US Dollar Index slipping below the 97.00 handle to fresh six-month lows.
Monday's gains also followed news that Ledger Holdings, the parent company of the bitcoin options exchange LedgerX, closed $11.4 million in new financing. LedgerX awaits regulatory approval from the Commodity Futures Trading Commission to operate as the first US regulated exchange and clearing house for the virtual currency.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.