Bitcoin Surges To 3-Months High

The largest digital coin rose as much as 5 per cent to reach $46,060 during New York trading hours.

Bitcoin surged Monday to a three-month high while policy makers seek to hash out last-minute compromises over how to tax crypto assets. The largest digital coin rose as much as 5 per cent to reach $46,060 during New York-trading hours. The rally is a continuation of recent momentum - the coin is up roughly 17 per cent over the last week. Peer coins also benefited, with Dash, Ether and Litecoin, among others, each up at least 3 per cent. The Bloomberg Galaxy Crypto Index of larger digital assets rose 6.7 per cent at one point, also its highest since May. “This move should be telling us that the worst is behind us for now,” said Matt Maley, chief market strategist for Miller Tabak + Co. Unless it reverses the move immediately, it could quickly advance toward $50,000, where it could find some resistance. Still, “the action in very bullish on a technical basis,” he said.