Bitcoin Holds onto Gains as it Rises Above $8,600 By Investing.com


© Reuters.

Investing.com – Bitcoin held onto overnight gains as increased activity in Asia helped the coin go above $8,600.

jumped 8.5% to $8,702.30 as of 7:05 AM ET (11:05 GMT) on the Investing.com Index. As usual, there was no clear driver on the sudden price increase, which happened during a half-hour period during Asian trading hours. Trading in the U.S. and U.K. are expected to be thin, as markets are closed for public holidays.

Bitcoin has had a resurgence this year, gaining 140% so far and is on track for May to be its best month in nearly two years, as mainstream companies have accepted that digital currencies are here to stay.

Facebook (NASDAQ:) is reportedly creating its own digital coin, while HTC has a phone that stores digital coins and Fidelity Investments is finalizing plans to buy and sell the digital assets for institutional customers. U.S. telecom giant AT&T (NYSE:) is going to allow customers to use payment processor BitPay to settle their online bills.

Still, Bitcoin remains far below the $19,000 it reached in 2017.

Other digital coins were also higher, with up 6.9% to $266.39 and gained 7% to $0.40928 while surged 11% to $113.78.

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