Bitcoin tests $4,000 as Draghi rules out ban
The first and most valuable cryptocurrency hit a five-day high versus the dollar on Monday, helped by safe-haven demand amid rising geopolitical tensions centered on North Korea and Iraqi Kurdistan. Mario Draghi, president of the European Central Bank, added to the bullish sentiment in the Bitcoin market. In a dialogue with European parliamentarians, he warned of cybersecurity risks, but acknowledged monetary policy makers have no authority to "prohibit or regulate" the asset class.
The Bitcoin reached $3,977, after which it surrendered a chunk of daily gains, trading 6.47% up at $3,891‚at 7:31 pm CET. One coin bought €3,288.1, gaining 6.66% in the session, following a climb to €3,360. The exchange rate relative to the yuan rose 4.67% to 24,910. Spinoff cryptocurrency Bitcoin Cash surged 6.84% to $450.