Bitcoin surges past $1,900 for the first time

pulse

May 19, 2017 11:57 AM

Bitcoin is up by 105% in 2017.

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Bitcoin is at it again. Overnight, the cryptocurrency topped $1,900 for the first time. It is now trading up by 2.3% at $1,938.81 a coin.

Friday's gains have bitcoin up by about 102% since March 27. The cryptocurrency has gained in 23 of the past 26 sessions.

The rally has seemingly been sparked by news out of Japan at the beginning of April that bitcoin is now considered a legal payment method in the country. Along the way, Ulmart, Russia's largest online retailer, said it would begin accepting bitcoin even though Russia said it wouldn't explore the cryptocurrency until 2018.

The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn its ruling on the Winklevoss twins' bitcoin exchange-traded fund. The SEC was accepting public comment on its decision until Monday, but it hasn't announced whether it will overturn its rejection of the ETF.

Bitcoin has gained 105% this year. Except for 2014, it has been the top-performing currency every year since 2010.

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