INSUBCONTINENT EXCLUSIVE:
Bitcoin still remains far below its mid-April high of almost $65,000.A continuing recovery in Bitcoin has put the largest cryptocurrency on
course for its longest winning streak this year.The virtual coin rose as much as 7.5% to top $40,900 on Wednesday during New York trading
It's advanced for eight straight days, its longest winning streak since December
exchange Delta Exchange, wrote in a note Tuesday.Bitcoin heads to the top of a recent trading zonePhoto Credit: BloombergBitcoin remains far
below its mid-April high of almost $65,000
But bulls have taken heart from recent positive comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood, as
well as speculation over Amazon.com Inc.'s potential involvement in the cryptocurrency sector
The token soared Monday as some traders exited leveraged bets on declines.Bitcoin has been rising even though a stock rout in China this
week dented some investor appetite for risk, contributing to a drop in global stocks.The crypto rally has taken the focus away -- for now at
least -- from criticism of Bitcoin's environmental impact due to energy consumed by the computers underpinning it
Regulators in China, the United States and Europe are also increasingly cracking down on cryptocurrencies or considering harsher rules.Now
there are signs retail investors are starting to pile back into cryptocurrencies, according to Ben Onatibia and Giacomo Pierantoni of
TheIndianSubcontinent staff and is published from a syndicated feed.)
