Bitcoin climbs to the highest value in almost two weeks

POWELL said in a statement before the congress that the Fed had no intention to ban cryptocurrencies. The answer came in response to a question from the MP of the House of Representatives Ted Budd.

Some analysts also said that October is usually an interest bully month for digital assets, with historically historically speaking a declining time for the sector.

"The Digital Asset Markt benefits both from the seasonality effect and generally positive market finder data," said Ulrik K.Lykke, founder of the crypto-asset hedge fund Ark36.

"Q4 has often shown strong services and the expectation that the trend will continue this year can become a self-fulfilling prophecy. It is possible that we will see new all-time highs in the fourth quarter, in particular that on-chain data, especially in the case of Bitcoin, indicate a potential for a strong continuation of the bull market.

He also cited Powell's comments on Thursday as a factor for the positive price development of Bitcoin.

The greatest cryptocurrency recently rose by almost 9% to $ 47,742 and reached a maximum of almost $ 48,000. If the profits are maintained, Bitcoin would be on the way to record its largest daily percentage growth since mid -June.

Smaller coins ether and XRP, which tend to move in parallel to Bitcoin, rose by almost 10 % to 3,294 % or 8.2 % to $ 1.0299.

Joseph Edwards, research manager at Enigma Securities in London, also mentioned increasing volumes of crypto derivate exchanges as possible drivers for the steps. The trade in derivatives often influences spot prices on the Bitcoin markets.

You can find an overview of all the business events of today in our economic calendar.

(Reporting by Gertrude Chavez-Dreyfuss in New York and Tom Wilson in London; Editor of Saika Chatterjee and Chizu Nomiyama)