![\"Bitcoin](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2018\/07\/Bitcoin-back-above-8000.png\")
<\/a><\/p>\nBitcoin\u2019s rebound continued Tuesday, as the largest cryptocurrency climbed past $8,000 for the first time in two months, leading a revival among digital currencies that have been under pressure for much of the year.<\/p>\n
Bitcoin jumped as much as 4.1 percent to as high as $8,016.62 during Hong Kong trading hours, the highest since May, according to composite Bloomberg pricing. Rival tokens Ether, Litecoin and Ripple also rallied, according to data compiled by Bloomberg.<\/p>\n
With the latest gains, the total value of cryptocurrencies worldwide is again approaching $300 billion, according to data from Coinmarketcap.com. Bitcoin still remains almost 60 percent down its peak of almost $20,000 in December.<\/p>\n
\u201cWe\u2019ve been in depressed levels for the last six months, so it\u2019s really one way from here, which is up,\u201d said Timothy Tam, chief executive officer with CoinFi, a cryptocurrency data analysis company, in a phone interview from Hong Kong. \u201cThe timing is always difficult to predict but I think we\u2019re at the start of a secular bull market.\u201d<\/p>\n
The fortunes of Bitcoin and other digital currencies have turned in July after a report that BlackRock Inc., the world\u2019s largest asset manager, has formed a team to study ways to take advantage of the market and its underlying blockchain technology. Bitcoin has surged almost 30 percent since that news was first disclosed.<\/p>\n
There\u2019s also renewed optimism after Bitmain, the cryptocurrency mining rig maker, completed another funding round, Tam said. The company was reported by Caixin to have raised $300 million to $400 million at a valuation of about $12 billion.<\/p>\n
The cryptocurrency space has otherwise struggled this year, as the industry grapples with increased regulatory scrutiny around the world as well as security concerns, with hacks a persistent problem for exchanges. Thieves made off with almost $500 million worth of tokens from Japanese exchange Coincheck Inc. in January, while most recently two Korean crypto bourses suffered cyberattacks in June.<\/p>\n
Bitcoin\u2019s rebound continued Tuesday, as the largest cryptocurrency climbed past $8,000 for the first time in two months, leading a revival among digital currencies that have been under pressure for much of the year.<\/p>\n","protected":false},"author":341034,"featured_media":219068,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[51031,187,191,45058,12407],"class_list":["post-269439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-51031","tag-bitcoin","tag-cryptocurrency","tag-market-cap","tag-price"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/269439"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=269439"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/269439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/219068"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=269439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=269439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=269439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a><\/p>\nNow read:\u00a0Zombie cryptocurrency stocks resurface as Bitcoin recovers<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"