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Bitcoin Surges 40% In Minutes After Briefly Breaking $3,900

Avatar Nick Chong 3 months ago

At long last, Bitcoin has bounced after Thursday’s brutal performance. Just recently, the price of the leading cryptocurrency hit $5,800 on Coinbase, rallying from the $3,850 low seen just minutes ago. This marks an 18% rally.

It isn’t clear why this has rallied so hard, though the surge in the price of the cryptocurrency coincided with a short outage in the service of BitMEX, which briefly crashed after a record day. It may also have been related to an investor longing Bitcoin.

Regardless of what exactly happened, one thing is for certain: there will continue to be mass volatility in the cryptocurrency markets over the next few days as liquidity rapidly leaves the market.

Featured Image from Shutterstock
Nick Chong

Since 2013, Nick has shown interest in Bitcoin and cryptocurrencies. He has since become involved in the industry as a full-time content creator, working for NewsBTC, Bitcoinist, LongHash, among other outlets. Aside from covering...

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