So Much for the Cryptocurrency Crash? Bitcoin Is Up Over 50% in the Last 2 Weeks

February 19, 2018, 2:06 PM UTC

Bitcoin climbed for a fourth day, accelerating a rally that began when it bounced off a technical support level.

The biggest cryptocurrency rose 8.9% to $10,985 as of 12:08 p.m. in London. That brought its increase to 54% since Feb. 6, according to prices compiled by Bloomberg. Bitcoin outperformed its closest rivals — Ripple, Ethereum and Litecoin — which gained about 2%.

Read: Trader Is Charged With Stealing Millions Worth of Bitcoin to Cover His Own Losses

Until regulators gain a better grip on them, digital currencies will struggle for wider acceptance in mainstream finance, according to S&P Global Ratings.

“The future success of cryptocurrencies will largely depend on the coordinated approach of global regulators and policymakers to regulate and enhance market participants’ confidence in these instruments,” the ratings firm said in a report published Monday. Among the banks S&P rates, “exposure to cryptocurrencies appears to remain limited.”

Read: Meet ‘Paypal for Crypto,’ a New Way to Pay With Bitcoin and Litecoin

Bitcoin last closed above $11,000 on Jan. 29.