Bitcoin Jumps to Highest Since August as Regulatory Concern Ebbs
- One-day increase for Bitcoin is the biggest in a month
- The broad crypto rally outperformed rise in tech stocks
Photographer: Bing Guan/Bloomberg
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Bitcoin rose to the highest level since August on Wednesday, gaining for a second day as a decrease in risk aversion helps to temper concerns about a widening crackdown by US regulators.
The largest cryptocurrency by market value jumped by 8.2% to $24,083 as of 4:19 p.m. in New York. The increase is the biggest one-day gain in about a month. Smaller digital tokens such as Ether, Cardano and Polkadot also rallied.