Initial Coin Offering, Security Token Offering - Finance and Banking mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
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Bitcoin surged to its highest levels since mid-April after surpassing a closely-watched technical hurdle.
The digital token climbed above its average price over the past 50 days, a measure of its short-term momentum. For chart watchers, that had been an important level such a move usually portends further gains. Many analysts will now look to see if it can sustainably stay above it.
Trading in the world’s largest digital asset has been choppy in recent weeks after it hit a record high in mid-April above $64,000. It’s come down since then amid sessions that have clocked large intraday swings. On Friday, Bitcoin was up about 7.6% to $57,006 as of 12:29 p.m. in New York.
With Venezuela's official currency plummeting for years, both the government and cryptocreators are trying to stem the rot with digital tokens. For ordinary Venezuelans, the cryptoboom also means regaining freedom.
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