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Bitcoin experiences surprise surge of over 10%

Will this be a long-term boost or a temporary increase?

Bicoin experiences surprise surge of over 10%

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.   

  

Bicoin experiences surprise surge of over 10%  

Over the past month, the value of Bitcoin has seen a downward trend, with today's gains reversing that trend in a big way. This change does not guarantee that Bitcoin will continue to increase in value moving forward, with Bitcoin remaining well below last month's high of over $9,000. 

You can join the discussion on Bitcoin's sharp increase in value on the OC3D Forums

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Most Recent Comments

12-04-2018, 09:05:00

tolagarf
It probably a buy wall that got activated once it hit a certain price range in the 6500'ishQuote

12-04-2018, 10:38:31

A7ibaba
It increases because forecast weather report announced rain in Washington DC.Quote

12-04-2018, 10:49:48

Nogginthenog
If you examine the spikes in bitcoin price in the past, they usually follow some sort of financial crisis, when fiscal measures were placed on Greece restricting the locals ability to access money bitcoin use spiked and so did the price. Hyperinflation in Venezuala had the same effect.

That was of course before the speculation pushed rises last year, which have now mostly evaporated.

But now its a classic one, risk of war that could destabilize the oil markets among others and the price begins to lurch upwards again. When Bitcoin is relatively stable, its fairly good short term asset store. I suspect that what is going on.Quote
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