Bitcoin topped the psychologically key $9,000 level to hit a 10-day high Wednesday amid improved sentiment about government regulation.
The cryptocurrency climbed 9.7 percent to $9,346, its highest since Feb. 4, according to CoinDesk’s bitcoin price index, which tracks prices from four major exchanges. As of 12:50 p.m. ET, Bitcoin was about 9 percent higher near $9,313.
“Sentiment has changed. The Senate hearing a week ago was positive. That definitely helped to create a more optimistic view,” said Nick Kirk, quantitative developer and data scientist at Cypher Capital, a cryptocurrency trading firm. He added that news out of South Korea has been OK.
The latest reports about South Korean regulation marked a toned-down approach, in contrast to fears in the last several weeks that the government would close down cryptocurrency exchanges….