Winter comes to an end for cryptos after bitcoin soars 20 pct

SRAX

02/04/2019 15:16

(Updates)
    ** Bitcoin  BTC=BTSP  soars as much as 23 pct to $5,080 on
Tuesday, highest in 4-1/2 months
    ** Nigel Green, CEO of financial advisory firm deVere group
says market has bottomed, and "crypto-winter" has come to an end
    ** Bitcoin records biggest intraday gain since Dec 2017,
when the cryptocurrency hit a life high of nearly $20,000
    ** Green says bitcoin could be back up because prices have
bottomed out; expects bitcoin to hit $7,000 within months
    ** "After being in bear territory there is a growing sense
that bitcoin is back," Green says, adding Tuesday's dramatic
jump is "likely to attract many investors who have been sitting
on the sidelines"
    ** Analysts also ascribe Tuesday's move to a major order,
worth about $100 million, by an anonymous buyer that triggered
computer-driven trading, spread across major crypto exchanges
 urn:newsml:reuters.com:*:nL8N21K1RW
    ** Bitcoin surge triggers similar moves in other smaller
currencies: Ethereum's ether  ETH=BTSP  and Ripple's XRP
 XRP=BTSP , respectively the second- and third-largest coins, up
over 10 pct
    ** Cryptocurrency-related stocks also up: currency miner
Marathon Patent  MARA.O  up 24 pct, blockchain company Riot
 RIOT.O  27 pct, Xunlei Ltd  XNET.O  9.2 pct, DPW Holdings
 DPW.A  19.3 pct, Social Reality  SRAX.O  6.6 pct
    ** Internet shopping company Overstock.com  OSKT.O , which
accepts bitcoins as payments, also rises 3.4 pct to $16.72

 (Reporting By Aparajita Saxena in Bengaluru)
 ((Aparajita.Saxena@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806 749 8901; Reuters Messaging:
aparajita.saxena.thomsonreuters.com@reuters.net))