The largest cryptocurrency, Bitcoin, extended its recent bullish streak and went to refresh all-time highs above $ 5800 mark, after the upside accelerated on a break above the key psychological levels of $ 5000.
Reuters reported that Bitcoin jump nearly 7.5% to highs of $5,846 in the Asia morning, before retreating slightly towards $ 5700 levels. Last month, the cryptocurrency was sold-off below $ 3000 on the back of the Chinese regulatory clampdowm. The PBOC declared initial coin offerings (ICOs) illegal and banned fund raising through ICOs.
The rebound in the digital currencies so far this month can be mainly attributed to the latest speculation over the removal of the ban on ICOs imposed last month by China. Meanwhile, reports of Goldman Sachs exploring a bitcoin trading operation also keeps the sentiment buoyant.
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