Bitcoin hovers around $83,000 as AI earnings revive tech, ZEC jumps 11%
Strong results from SpaceX and Super Micro sent Asian chip stocks surging, and ZEC led crypto higher after developers set a date for its next network upgrade.
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Summary
- Bitcoin rose 1.3 percent to about $82,700 as strong technology earnings lifted Asian stocks and revived enthusiasm for the artificial intelligence trade.
- Zcash surged 11 percent after developers set the activation height for NU7, an upgrade designed to cut block times to 25 seconds and make payments confirm three times faster.
- Analysts at Hashdex said Bitcoin’s nearly yearlong bear phase may be nearing an end, though the cryptocurrency must reclaim $84,000 before the Federal Reserve’s Oct. 27-28 meeting to signal renewed strength.
