It was last up 4.4 per cent at $9,387.15 on the Bitsta­mp platfo­rmNEW YORK: Bitcoin rose to a six-week high on Tuesday on positive headlines that included the possible entry of major financial institutions into the space, lifting sentiment on the overall cryptocurrency market. News that major financial institutions are becoming more bullish about the space has also bolstered the confidence of retail investors, Viglione added. Reports also said Barclays PLC has been gauging interest from its clients about launching a cryptocurrency trading desk. Reuters also reported on Tuesday that one in five financial institutions is considering trading cryptocurrencies within the next 12 months, according to a survey published by Thomson Reuters. That said, market participants pointed out that challenges in the cryptocurrency space such as increased regulatory focus are not going away any time soon and may take a long time to resolve.

Source: The Express Tribune April 25, 2018 06:33 UTC