Bitcoin Surges Above $5,200 on Hopes of Renewed China Trade

Bitcoin set a fresh record above $5,200 as investors bet on China easing trading restrictions and reacted to a prominent hedge fund manager predicting the price of the virtual currency could rise to $10,000 within a year.

The digital currency was last trading at $5,195, up 7.6%, according to CoinDesk. It traded as high as $5,226, an all-time high. The prices of other digital assets also rose.

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