Bitcoin soared Friday, October 1 to its highest level since around mid-September, buoyed 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 has no intention of banning cryptocurrencies.
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 trading 9% to $ 47,742.
If Bitcoin maintains the gains, it will be on track for its biggest daily percentage gain since mid-June.