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3 Reasons Bitcoin Has Rallied Above $700

Recently, the price of the digital currency, Bitcoin, has risen to above $700, a multi-month high. In fact, Bitcoin is up around 16% over the past 30 days and up 62% year to date – making it the second best performing currency asset of the year so far, behind Ether, another digital currency based on blockchain technology. Some believe that the price is well on its way back to its previous all-time high in December 2013 of $1,200 or more. Why has the price rallied? Here are three possible reasons.