Bitcoin rises above $40,000

Bitcoin rises above $40,000

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Singapore: Bitcoin broke through $40,000 on Wednesday and tried again to break through its months-long range as short sellers withdrew one after another. Traders gained confidence from recent positive comments on cryptocurrencies by well-known investors.

Bitcoin finally rose 1.7% to US$40,149, while rival cryptocurrency Ethereum rose 1% to US$2,328. Bitcoin is about to break its 100-day moving average.

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