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Why Bitcoin Surged Above $60,000 Today

TheMotleyFool

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The price of Bitcoin (CRYPTO: BTC) jumped 7% to more than $61,000 on Friday following a report that U.S. regulators would allow an exchange-traded fund designed to track the popular cryptocurrency to begin trading next week.

The Securities and Exchange Commission will not block the first U.S. Bitcoin futures ETF from trading on Tuesday, according to Bloomberg. This news helped to extend a rally in the cryptocurrency's price that has seen it more than double from its recent lows near $30,000 in July.

Image source: Getty Images.

Source Fool.com

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