Bitcoin still crosses 55 thousand dollars . a jump of 7% in one day

The Bitcoin cryptocurrency rose Wednesday, surpassing $ 55,000 and reaching its highest level since mid-May.

Regulatory concerns eased this week after Treasury Secretary Janet Yellen and Securities and Exchange Commission Chair Gary Gensler both said they had no plans to impose restrictions on the trading of cryptocurrencies.

The most popular cryptocurrency has been traded in up 7.6% to $ 54873.02, according to Coin Metrics. Ether, which is also in second place, was up 2.8% to $ 3,575.73.

Bitcoin rose to $ 55,499 at the start of the session. It’s up 13% this week alone and 87% quest’year.

The rally arrives in amid a series of small developments in Washington, DC, which provided some relief for institutional investors eager to jump on the cryptocurrency ship.

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