Bitcoin rises 8% to $48,861.48


(Reuters) - Bitcoin rose 8 % to $48,861.48 on Monday, adding $3,620.52 to its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, has risen 76.2% from the year's low of $27,734 on Jan. 4.

Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 16.3% from the year's high of $58,354.14 on Feb. 21.

Bitcoin's price soared this year as major firms, such as BNY Mellon (NYSE:BK), asset manager BlackRock Inc (NYSE:BLK), credit card giant Mastercard Inc (NYSE:MA), backed cryptocurrencies, while those such as Tesla (NASDAQ:TSLA) Inc Square Inc (NYSE:SQ) and MicroStrategy Inc invested in bitcoin.

Ether, the coin linked to the ethereum blockchain network, rose 8.74 % to $1,546.06 on Monday, adding $124.29 to its previous close.

Source: https://www.investing.com/