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Bitcoin Hits Its Highest Price of 2019 | Fortune

Bitcoin climbed to a fresh 2019 high, approaching the $6,000 level for the first time since November on most cryptocurrency exchanges.

The largest digital coin advanced as much as 4.7 percent to $5,961, according to Bloomberg composite pricing. Most of the other highly-traded tokens also pushed higher.

The world’s most-followed cryptocurrency has been drawing attention from technical analysts and conventional investment firms as it claws its way back from last year’s 74 percent plunge that took it below $4,000. It has surged more than 50 percent in 2019.

“Bitcoin is testing new near-term highs because the overall institutional involvement is becoming stronger and stronger,” Jehan Chu, managing partner at Kenetic Capital, said by phone from Hong Kong. “We’re just seeing institution after institution lining up to the thesis of digital currency, and Bitcoin is the standard bearer.”

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Bitcoin Hits Its Highest Price of 2019 | Fortune.

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