Bitcoin experiences surprise surge of over 10%

At around 11 am UTC Bitcoin experienced a pricing surge of almost 17%, increasing the value of the cryptocurrency from approximately $6,850 to over $8,000.   

Right now the cost of Bitcoin has settled at a price of around $7,700, though the exact reasoning behind this increase in value is unknown, though some suspect that there has been an increase in buying volume in recent months. 

Some analysts have suggested that Bitcoin’s recent demise was only temporary, mostly due to fears that Bitcoin was a financial bubble. Today most major cryptocurrencies have seen their market values increase, including Bitcoin Cash, Litecoin, Ethereum and Ripple.