Bit Coin On Fire

Bitcoin’s price topped €10,000 on Tuesday, hitting its highest level (in euro-denominated terms) in 17 months.

The cryptocurrency rose to €10,024 at 13:10 UTC today – a level last seen on Jan. 21, 2018 – according to CoinDesk’s Bitcoin Price Index, as prices refreshed 15-month highs in US dollar terms with a move above $11,400.

As of writing, BTC’s EUR-denominated exchange rate (BTC/EUR) is trading at €9,939.40, representing 2.75 percent gains on the day. On a month-to-date basis, BTC/EUR is up about 28.7 percent, while BTC/USD is flashing a 31.2 percent price rise.

Bitcoin’s underperformance in EUR terms could be associated with the fact that the 17-nation currency has strengthened 2 percent against the greenback this month. The investors have sold the greenback across the board on rising odds of an interest rate cuts by the US Federal Reserve.