Bitcoin tops $1,600 for the first time (BTC)

Bitcoin cleared the $1,600 level for the first time on Thursday. The cryptocurrency has pulled back a bit and now trades up 5.5% at $1,585.71 a coin as of 12:27 p.m. ET. It's higher for the 14th time in 15 days, gaining more than 35% over that time. 
The recent rally has lacked any real catalyst, with traders seemingly keying in on hope the US Securities and Exchange Commission will reverse its decision to the reject the Winklevoss ETF. A decision is due by May 15.
Back in March, the SEC re