Bitcoin soars to five-month high on seasonal factors, Soros news

FILE PHOTO: Representations of the Bitcoin cryptocurrency are seen in this illustration picture taken June 7, 2021. REUTERS/Edgar Su/Illustration

NEW YORK (Reuters) -Bitcoin surged on Wednesday to its highest level in five months, as market sentiment continued to improve due in part to news a hedge fund controlled by billionaire investor George Soros trades bitcoin.

Investors also expect a seasonal rally in cryptocurrencies this quarter.