The eight-day winning streak comes amid investor speculation the Securities and Exchange Commission will approve at least one of the three proposed bitcoin-focused exchange-traded funds despite analyst concerns that none will be approved.
Bitcoin has had a wild start to 2017.
It rallied more than 20% in the opening week of the year, propelled by speculative buying in China. It then proceeded to crash 35%, bottoming out below $800, amid concerns China was going to crackdown on trading.
After shrugging off concerns that Chinese exchanges were going to charge a flat fee of 0.2% per transaction, buyers re-emerged and ran bitcoin above $1,050 before two of China’s largest exchanges said they were blocking withdrawals.
Read more at http://www.businessinsider.my/bitcoin-price-february-21-2017-2017-2/#Tk6XEO9MyMcHy4LL.99
