Bitcoin is at it again. Overnight, the cryptocurrency topped $1,900 for the first time. Currently it trades up 2.3% at $1938.81 a coin.
Friday's gains have bitcoin up about 102% since March 27. The cryptocurrency has gained in 23 of the past 26 sessions.
The rally has seemingly been sparked by news out of Japan at the beginning of April that bitcoin was now considered a legal payment method in the country. Along the way, Ulmart, Russia's largest online retailer, said it would begin accepting bitcoin.
The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn its Winklevoss bitcoin ETF ruling. The SEC was accepting public comment on its decision until May 15, but hasn't yet announced whether or not it will overturn its rejection of the ETF.
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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