Bitcoin rose 8% on Monday to 48,861.48 US dollars, up 3,620.52 US dollars from the previous trading day.
Bitcoin, the world’s biggest and best-known cryptocurrency, has risen 76.2% from the year’s low of $27,734 on Jan. 4.
Bitcoin, the world’s biggest and best-known cryptocurrency, has fallen 16.3% from the year’s high of $58,354.14 on Feb. 21.
Bitcoin’s price soared this year as major firms, such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, backed cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin.
Ether, the token linked to the Ethereum blockchain network, rose 8.74% on Monday to $1,546.06, an increase of $124.29 from the previous closing price.