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Bitcoin Surge Pushes Weekly Gain to 40%, and It's Only Wednesday

  • Skeptics say its unclear how Facebook push benefits Bitcoin
  • Traders watch technical levels for signs of further breakout
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Bitcoin Surpasses $11,000
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Bitcoin’s furious run is starting to look more and more like it did at the height of crypto-mania two years ago.

The virtual currency surged as much as 18% on Wednesday, topping $13,000 for the first time since January 2018, and bringing its gain since late Friday to almost 40%. The digital asset has climbed more than 200% since December, prompting many investors to ignore the 74% drop last year that followed the parabolic 1,400% surge in 2017.