Bitcoin traded to an all-time high above $8,099 intraday, according to digital currency site CoinDesk.com, before paring its gain in early Monday trading. It was back near $8,039.61, still up over $9, or 0.1% on the day. The cryptocurrency ended last week with a 17% gain, extending a rebound from its four-day plunge logged earlier this month. It traded briefly below $6,000 as recently as November 12, retreating on the suspension of a software upgrade known as Segwit2X due to opposition by other developers. The technology change would have approximately doubled the processing capacity of the underlying network. Analysts have credited the latest rebound in part to enthusiasm from institutional investors, including the announcement of plans for CME bitcoin futures. At the consumer level, Square last week started testing bitcoin payments on its Cash app. So far in 2017, bitcoin is up more than 700%.
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