Bitcoin Hits Multi-Week Highs Despite Continuing Altcoin Surge

Bitcoin climbed 11 percent into Friday to post its highest price since mid-December: one coin was worth $16,920, cross-exchange data shows.

Exchanges tracked by Coinmarketcap recorded an average trade price maximum of just under $17,000 earlier Friday before a slight correction saw Bitcoin head back towards $16,000.

The performance is encouraging for holders who have watched profits ebb as altcoin markets continue to surge. The trend marks a pause after several weeks of bearish action for BTC, which did not immediately correct following its dip from $20,000 to around $13,000 last month.

On social media, casual traders were eyeing Bitcoin’s reversal to continue, noting its impact on altcoin markets.

Optimism from well-known figures has remained unshaken meanwhile, despite newfound investor and mainstream interest in Ripple and continuing publicity maneuvers from Bitcoin Cash proponents…

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