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Cryptos: Bitcoin prices rise 2% but ‘demand is still a serious problem,’ says analyst

Bitcoin prices were moving higher on Thursday, gaining as much as 2% and dragging the digital currency more than 3.5% off Wednesday’s low.

In morning action, a single bitcoin BTCUSD, -0.17% was fetching $3,837.21, up 1.5% since Wednesday’s level at 5 p.m. Eastern time on the Kraken exchange. The cryptocurrency traded to an intraday high at $3,915.51, its highest level of the week.

Read:Nearly half of all tech executives say the blockchain revolution is coming, survey finds

What are analysts saying

“Bitcoin failed to hold on to last week’s rebound [above $4,000] and slipped back under this psychologically significant level.

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