Flagship cryptocurrency bitcoin spiked on Monday after the Chinese stock market crashed on its reopening following an extended Lunar New Year break. Bitcoin surged to $9,608, the highest since October, shortly after markets opened in Hong Kong. The digital currency has entered a bull rally on January 3, adding nearly 40 percent since then. It’s the best start to the year for bitcoin since 2012. Worries about the spiraling coronavirus outbreak have been boosting bitcoin which usually goes up when investors are nervous. Chinese stocks which had been closed since January 24 plummeted the most since 2015 as they resumed trading on Monday.
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