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Monday, November 13, 2017

Crypto News: Bitcoin's value rose $10 billion in just 12 hours after a dramatic sell-off

Bitcoins value rose $10 billion in just 12 hours after a dramatic sell-off

Bitcoin rallied more than 11 percent in just over half a day on Monday, following a dramatic plunge in the cryptocurrency over the weekend.

The digital currency started trading at $5,857.32 on Monday and rose to $6,545.20 by 11:50 a.m. GMT (6:50 a.m. ET), according to data from industry website CoinDesk. This marks a nearly 12 percent increase in the price.

Bitcoin's market capitalization, or the total value of all the virtual coins in circulation, rose over $10 billion in the same time period, according to industry website

Just last week, bitcoin hit a record high of $7,879.06 that was attributed to factors including CME Group announcing plans to offer bitcoin futures contracts, and some favorable regulation in countries like Japan, which has legalized bitcoin as a method of payment.

Full story at

Source: CNBC

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