Bitcoin price rises again above $47,000

Bitcoin Trading was up 6.37% on Saturday morning.

The price was roughly $47,800 per coin, while rivals Ethereum and Dogecoin were trading around $3,300 (+5.6%) and 21.7 cents (+5.05%) per coin, respectively, according to Coindesk.

Just 24 hours ago, bitcoin was above $45,000. The recent rally in the US cryptocurrency is attributed To a positive two-hour meeting on Thursday between US Federal Reserve Chairman Jerome Powell and members of the House Financial Services Committee.

Elon Musk Says Crypto Regulators Should ‘Do Nothing’ and ‘Let It Fly’

At that meeting, Powell said he had no intention of banning cryptocurrencies, but said that stablecoins needed greater regulatory oversight.

Bitcoin traded up 6.37% on Saturday morning. (Getty Images)

In other cryptocurrency news, hackers exploited a vulnerability and bypassed Coinbase’s multi-factor authentication SMS option, Coindesk reported on Friday. The action affected at least 6,000 of the exchange’s customers, according to a notification letter sent to affected customers stating that the company has filed papers with the California attorney general’s offices.

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Between March and May 20, a hacker or hacker used a flaw in the Coinbase account recovery process to obtain a two-factor authentication code via SMS to break into customer accounts and transfer funds from them, according to the report.

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