Bitcoin jumps 9% to touch 12-day high

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A illustration of digital foreign money Bitcoin is seen in entrance of a inventory graph on this illustration taken January 8, 2021. REUTERS/Dado Ruvic/File Picture

LONDON, Oct 1 (Reuters) – Bitcoin prolonged good points on Friday, climbing over 9% in late morning commerce to $47,800, its highest stage in 12 days.

The biggest cryptocurrency was final up 7.9% at $47,263, which if maintained can be its largest one-day leap since mid-June.

Smaller cash ether and XRP , which have a tendency to maneuver in tandem with bitcoin, had been up 7% and 5% respectively.

Joseph Edwards, head of analysis at Enigma Securities in London, cited spiking volumes on crypto derivatives exchanges as a attainable driver for the strikes. Derivatives buying and selling typically influences spot costs in bitcoin markets.

Reporting by Tom Wilson; Enhancing by Saikat Chatterjee


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