The cryptocurrency's price jumped by 12% from Friday, its biggest intraday rise since April. However, the digital currency trades seven days a week. Bitcoin had fallen as low as 5820.79 on Friday, but moved higher over the weekend.
BITCOIN PRICE SURGES $400 IN ONE HOUR AS CRYPTOCURRENCY.
Bitcoin has experienced a second major price spike in the space of two days, surging by $400 on each occasion to take the cryptocurrecny's value close to $7,000.
Other major cryptocurrecnies – including ethereum, ripple and bitcoin cash – mirrored the fortunes of bitcoin, with gains across the cryptocurrency market of between 5 and 15 per cent over the last 24 hours.
Bitcoin was at $6,620.30 according to Coindesk. Other digital currencies were also up, including Ethereum, Bitcoin Cash and Ripple, also known as XRP.
Bitcoin’s trading volume has spiked at the time of this writing about 9:30 am EDT. Interestingly, this is near the same time US equities exchanges opened. Global equities have turned toward more bearish sentiment as trade tensions have heated up. Bitcoin’s trading volume rise is shown on the 24-hour graph below:
Over the past 24 hours, Bitcoin (BTC) has enjoyed a 3.4% increase in price and much higher trading volume. The price of Bitcoin currently stands at $6,613.00 on Coinbase.
However, one prominent member of the cryptocurrency industry thinks that this could be just a starting point, and that bitcoin could rally to as much as $50,000 during the second half of 2018. And he believes it might just take one big catalyst to get it there -- bitcoin becoming available to investors in ETF form.
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