Bitcoin is back to its old ways after a few quiet sessions.
The cryptocurrency trades up 4.1% at $2,407 a coin following news that China’s three largest bitcoin exchanges are allowing customers to withdraw bitcoinsfrom their accounts.
The news follows months of uncertainty for customers of the exchanges, who back in February were told they would be unable to take bitcoin out of their accounts. At the time, bitcoin was threatening its record high of $1,161 a coin before plunging more than 10% on the news.
Since then, however, things have been going pretty well for the cryptocurrency. Aside from the US Securities and Exchange Commission rejecting two bitcoin ETFs, bitcoin has seen a steady stream of good news.
In early April, Japan announced bitcoin had become a legal payment method in the country. Additionally, Russia’s largest online retailer, Ulmart, began accepting bitcoin despite Russia’s saying it wouldn’t consider the use of the cryptocurrency until 2018
Bitcoin has gained 155% so far in 2017.
BITCOIN PRICE GRAPH Markets Insider