Bitcoin jumped more than 2 percent Tuesday to its highest since Jan. 4 amid a surge in speculative activity in Chinese exchanges after a drop in China’s foreign exchange reserves.
“The volume in the Chinese exchanges is starting to pick up again,” said Brian Kelly, founder of Brian Kelly Capital and a CNBC contributor. He is long bitcoin and also noted the move comes as the U. S. Securities and Exchange Commission reviews an exchange-traded fund (ETF) that tracks bitcoin’s price.
