Bitcoin price LIVE: BTC to SOAR as survey finds one in five banks warming to crypto

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Express | By David Dawkins | Apr 24, 2018

BITCOIN is back in business after adding 10 percent this week and hitting a high of $9,287 this morning. Ethereum has posted strong gains to hit $677, and Ripple is up at $0.91.

Bitcoin is priced at $9,216 after adding $278 on the day so far.The senior cryptocurrency is up 10 percent on the week so far according to CoinMarketCap data, and has added a very solid 27 percent on the month.Yesterday, Rodrigo Marques, CEO of investment platform Atlas Quantum and previously a senior consultant at the Brazil Stock Exchange told Express.co.uk that he sees a “return of a bull market.”

Mr Marques says that several major developments in March and April have seen British and French regulators take a step towards accepting cryptocurrencies as a development “so significant it can no longer be ignored.”He says that Coinbase being awarded with an ‘e-money’ licence was a “big move” by the UK regulator, followed just a week later by the British government announcing it will form a new crypto taskforce.

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Mr Marques also credits the move by Barclays to “break rank” with the scepticism of the mainstream financial world and partner with Coinbase after its user base in Europe - especially the UK - grew twice as fast as any other market last year.The CEO said: ”I believe bitcoin deflationary characteristics suggest that in the long run, the market is bullish - while more institutional demand and regulatory clarity from the likes of the SEC and G20 are likely to stimulate the market even more.
Updates below throughout the day....
3.00pm - UPDATE - ETH to hit $700
Ethereum is poised at $699. A big recovery from the low of $368 earlier this month.
2.27pm - UPDATE - More corporate accounts
Read the full report here.Iqbal V Gandham, UK Managing Director of eToro, told Express.co.uk that his firm has seen “an uplift in corporate accounts opening” and adds, “we are receiving more enquiries from family offices”.He said: “We have also seen order sizes increasing, which we believe is in part due to institutional money being invested in cryptocurrencies.”
1.17pm - UPDATE - BTC climbs
Bitcoin has hit $9,312, marking gains of $373 on the day so far.11.52am - UPDATE - Reuters survey good news for cryptoA survey published by Thomson Reuters has revealed that one in five financial institutions is considering trading cryptocurrencies within the next 12 months.

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Kevin Murcko, CEO of cryptocurrency exchange, CoinMetro told Express.co.uk that the long spell of investor cynicism is coming to an end.

He said:“Historically, the banking sector has been notoriously dismissive of the crypto movement. Cryptocurrency has variously been called a bubble, an asset for criminals, and worthless. But today’s survey demonstrates that while financial institutions are saying one thing, they’re doing quite another.”

“The tides of opinion and action in the financial sector are shifting. Goldman Sachs recently made its first crypto hire to explore the possibility of a bitcoin trading desk, while Barclays is also eyeing a move into cryptocurrency trading.”

“We’re witnessing a gradual institutionalisation of the market, and this is sure to drive mainstream adoption. The move to accommodate digital currencies is also a symbolic one; it’s a sign of growing maturity in the market, and represents just how far cryptocurrency has come since its days of relative obscurity.”

Business expert: Bitcoin could be as valuable as gold

10.46am - UPDATE - 'Pretty grim'
Joe Van Hecke, managing partner at Chicago-based Grace Hall Trading LLC told Bloomberg that there’s a good chance Bitcoin's price will be either around the $7,000 or $11,000 level in the next 30 days.He said: "We’ve just come through this pretty grim period with Bitcoin taking a pretty massive hit from potential government regulation, Chinese New Year and tax day in the US."We’ve got a really bullish trend here. As long as the news on Bitcoin stays relatively quiet, we can have a nice move up past $10,000."
10.40am - UPDATE - BTC rises
Bitcoin has made $316 on the day so far as wallet-holders hope for a $10k return before the day's end.

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