Cryptocurrency bull run imminent with bitcoin to hit $50,000 in 2018

Bitcoin rallied from three-month lows below $6,000 in choppy trading on Tuesday, as worries lingered about a global regulatory clampdown and moves by banks to crack down on the cryptocurrency. 

On the Luxembourg-based Bitstamp exchange, bitcoin hit $5,920, its lowest since mid-November, before recovering to above $8,000. It hit a high of $8,150 and was last at $7,922.79 in late trading in New York, up nearly 15 percent on the day.

Bitcoin was up to $8,288.69 in early US trading today. 

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