Bitcoin mimics stocks rally, hits 2-week high

FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021. REUTERS/Edgar Su

(Reuters) -Bitcoin hit its highest in two weeks on Saturday, extending the previous session's strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets.

The world's largest cryptocurrency hit $41,983, taking gains from Thursday's lows to nearly 16%, and marking a 27% rise from the year's low of $32,950.72 on Jan. 24.