Bitcoin is rallying for an 8th straight day

Advertisement

Bitcoin is on track for an eighth straight day of gains as it trades higher by 1.4% at $1,026 per coin as of 7:28 a.m. ET.

Advertisement

The cryptocurrency 's winning streak comes amid wild start to 2017. Bitcoin rallied 20% in the opening days of the year, adding to its 120% gain in 2016 that made it the top performing currency for a second straight year. The gains ran bitcoin above the $1,000 level for the first time since November 2013.

However, concerns that China was going to start cracking down on trading sparked a 35% plunge over a matter of days. But trade managed to bottom out near $750 and shrug off news that China's three largest bitcoin exchanges were going to charge a flat fee of 0.2% per transaction.

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.29th Sep, 2022 Starts at 04:00 PM (35 mins)Register Now
Our Speakers
Beerud Sheth
Tim Barens

The current winning streak has tacked on nearly 15% and has bitcoin taking a run at the January high near $1,161.

Advertisement

NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin