Bitcoin surged Monday to a nearly three-month high as policy makers hashed out last-minute compromises over how to tax crypto assets. The largest digital coin rose as much as 5.4% to reach $46,245 during New York-trading hours. The Bloomberg Galaxy Crypto Index of larger digital assets rose 8.1% at one point, also its highest since May. Unless it reverses the move immediately, it could quickly advance toward $50,000, where it could find some resistance. “A question is whether supply-and-demand conditions have deteriorated since the start of 2021 and compared with Bitcoin’s past," McGlone wrote.

Source: Mint August 09, 2021 16:41 UTC