The cryptocurrency trades up 4.1% at $2,407 a coin following news that China's three largest bitcoin exchanges are allowing customers to withdraw bitcoins from their accounts.
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Bitcoin is taking off after China's biggest exchanges allow withdrawals
Bitcoin is up 155% so far in 2017.
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The news follows months of uncertainty for customers of the exchanges, who back in February were told they would be unable to take bitcoin out of their accounts. At the time, bitcoin was threatening its record high of $1,161 a coin before plunging more than 10% on the news.
Since then, however, things have been going pretty well for the cryptocurrency. Aside from the US Securities and Exchange Commission rejecting two bitcoin ETFs, bitcoin has seen a steady stream of good news.
In early April, legal payment methodUlmart, began accepting bitcoin
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