Cryptocurrencies
Bitcoin Gets a Boost From JPMorgan’s Embrace of Cryptocurrencies
- Digital coin flirts with $4,000 for first time since January
- Technical indicator suggests token has entered buying trend
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Bitcoin is approaching $4,000 for the first time since the start of the year, as the largest cryptocurrency gets a delayed boost from the announcement last week that JPMorgan has developed a prototype digital coin that it plans to use to speed up payments between corporate customers.
“What some people have pointed to is that because they’re using distributed ledger technology and they’re calling it a cryptocurrency, that could have a positive effect on the industry,” said Mati Greenspan, senior market analyst at eToro in Tel Aviv.