Bitcoin’s wild price swings resumed after the world’s largest cryptocurrency climbed above $40,000 for the first time.
After jumping as much as 11% to $40,394, Bitcoin fell around $3,500 in about half an hour and continues to fluctuate. Prices vacillated as much as 17% on Monday. The digital token has more than doubled in less than a month.
Strategists have cited demand from speculative retail traders, trend-following quant funds, the rich and even institutional investors as among the reasons for the surge. The total market value of cryptocurrencies climbed beyond $1 trillion for the first time Thursday.
“Bitcoin continues ...
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