© Reuters. The Bitcoin logo in a photo from the Reuters archive.
NEW YORK/LONDON (Reuters) – It rose on Friday to its highest level since around mid-September, boosted by seasonal factors, along with generally supportive comments from US Federal Reserve Chairman Jerome Powell on Thursday.
Powell said in congressional testimony that the Federal Reserve had no intention of banning .
Some analysts also said that October is usually a positive month for digital assets, while in previous years September was a negative period for the sector.
The largest cryptocurrency rose in the last nine percent to $ 47,742. If Bitcoin maintains gains, it will be on track for its biggest daily percentage gain since mid-June.
Smaller currencies, Ether and XRP, which tend to track Bitcoin’s movements, rose nearly 10 percent to $3,294 and 8.2 percent to 1.0299, respectively.
(Prepared by Mahmoud Salama for the Arab Newsletter)
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