On May 3, the famous and biggest cryptocurrency bitcoin hit a new six-month high, which traders said comes due to technical factors as there are reported no other drivers for the surge.

Bitcoin moved past $5700, its highest price since November 14, with a spike of more than 6%.

On the Bitstamp exchange, the vitual token was last trading at $5680, making the gains for the currency to be 55% so far this year.

In line, other cryptocurrencies such as Ripple's XRP and ethereum whose prices share correlation with bitcoin also surged.

GoodReturns.in