Bitcoin price has risen over 8 percent in the last week, after Japan passed a law to accept bitcoin as a legal payment method and Russia is reportedly looking into ways to regulate bitcoin.
News like this will have a serious impact on the price of the currency in the future, and traders keep a close eye on the intentions of those two countries and others who are considering such actions.
Bitcoin is up nearly $100 in the past week, hitting levels not seen since mid-March. Currently, the price of the currency is about $1220, and market and capitalization has risen to $19.5 billion from $18.34.
Source: Bloomberg
Trader I. Ivanov
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