The price of Bitcoin (BTC) surpassed $34,700 to achieve a new all-time high after a strong overnight rally. Ether (ETH), the native cryptocurrency of the Ethereum blockchain, also surpassed $800 for the first time since May 2018.
Bitcoin’s sudden rally comes as a surprise because it corrected sharply to around $30,300 on Jan. 2. Within 24 hours, BTC rose from $30,300 to as high as $34,778, a 14% rebound.
What triggered the Bitcoin and Ethereum rally?
When…
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