Bitcoin rallies to four-week high, ether hits three-week peak – Reuters

Bitcoin rallies to four-week high, ether hits three-week peak – Reuters

NEW YORK, Feb 7 (Reuters) - Bitcoin rose to a four-week high on Monday, climbing for a second consecutive session, driven in part by liquidation of some short positions that have accumulated in the virtual currency's recent three-month downtrend.

The world's largest cryptocurrency hit $44,524.18 , the highest since mid-January. It was last up 3.8% at $44,024. Since hitting a roughly six-month low on Jan. 24, bitcoin has gained about 35%.

Ether, the second-largest digital currency in terms of market capitalization, touched a three-week peak of $3,180 and was last up 3.1% at $3,153.21. It dropped to a six-month trough in late January, but since then, ether, the token used for the Ethereum blockchain, has surged about 47%.