Bitcoin is closing in on its all-time high

Buying early on in US trade has run bitcoin up 1.4%, or almost $16, to $1,123 a coin. Wednesday's bid has the cryptocurrency higher for a ninth straight session and threatening its all-time high of about $1,161.88. 
The recent strength in bitcoin comes amid speculation the Securities and Exchange Commission will approve at least one of the three proposed bitcoin-focused exchange-traded funds despite analyst concerns that none will be approved.
Bitcoin has soared more than 40% sinc