Bitcoin's Surge to Almost $8,000 Rekindles Memories of Bubble
- Token’s 8-month high sweeps up Ether, Litecoin, Bitcoin Cash
- Short sellers tracked by CFTC had just increased net holdings
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Bitcoin jumped to almost $8,000 and didn’t look back, as its longest winning streak since 2013 continued to rekindle the global cryptocurrency market.
Monday’s advance of as much as 26% comes only a few days after the digital asset broke through $6,000 and looks set to boost investor interest in conferences on the technology underlying the biggest crypto asset that are taking place in New York this week. Bitcoin’s latest surge started Saturday, when the two U.S. exchanges carrying futures are closed, making it potentially difficult for short sellers to cover their wagers.