The price of bitcoin surged above the $40,000 level over the weekend for the first time since mid-May, but the rally started to stumble Sunday.
The world’s largest cryptocurrency has surged since dipping below $30,000 on July 20, partly because investors see it as a hedge against inflation and currency values if and when the Federal Reserve starts tapering its $120 billion-a-month asset purchases.
Other cryptocurrencies followed bitcoin’s lead, falling Sunday after a streak of daily gains. Ethereum ETHUSD,
While bitcoin is about flat over the past five days, it’s up 14% over the past month, and