Bitcoin Surges Past $23K Before Retreating

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The largest cryp­tocur­ren­cy by mar­ket cap­i­tal­iza­tion was recent­ly trad­ing above $22,750, rough­ly flat for the last 24 hours but up more than 8% dur­ing the past week. Bit­coin has risen rough­ly 37% this year as investors dis­miss var­i­ous cryp­to indus­try head­winds, most recent­ly Gen­e­sis Glob­al Hold­co LLC fil­ing for Chap­ter 11 bank­rupt­cy pro­tec­tion, although in an email to Coin­Desk, Joe DiPasquale, CEO of cryp­to fund man­ag­er Bit­Bull Cap­i­tal, said that the rise was typ­i­cal for first quar­ters and not­ed “a long con­sol­i­da­tion peri­od that saw shorts accumlating.”

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