NEW YORK (Reuters) – Bitcoin rose to a four-week peak on Monday, climbing for a second consecutive session, driven in part by technical factors such as the liquidation of some short positions that pushed the virtual currency to a three-month downtrend, analysts said.
The world’s largest cryptocurrency hit $44,347.65, the highest since mid-January. It was last up 4.4% at $44,286. Since hitting a roughly six-month low on Jan. 24, bitcoin has gained about 35%.
Ether, the second largest digital currency in terms of market capitalization, touched a three-week peak of $3,170 and was last up 3.16% at $3,154.73.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Chris Reese)
