More than 38,500 #BTC coins changed the owner to help boost #Bitcoin price up by more than $1,000.

Yesterday #Bitcoin saw a sudden spike drive prices up by more than $1,000 in just under an hour as the cryptocurrency market surges into the green today. What is happening with #BTC?

Cryptocurrency prices this morning are all in the green as an inexplicable price surge boosted the values overnight. In just one hour, bitcoin prices rose by more than $1,000, pushing it over the $8,000 barrier for the first time in a fortnight.

The world’s most successful #cryptocurrency appears to be back on a bull run that investors hope will last for the rest of 2018.

What is happening with bitcoin?

Last night saw the biggest hour of trading in bitcoin’s entire history, with more than $270 million changing hands in 55 minutes.

More than 38,500 coins were traded last night to help boost the price up by more than $1,000.

There doesn’t appear to be any single explanation for the sudden spike in price, however, as cryptocurrencies are extremely volatile and subject to vast price swings at the drop of a hat.

“In this scenario traders with short positions will start to lose money and liquidate their positions by buying #bitcoin,” Ed Cooper, head of mobile at fintech startup Revolut, told The Independent.

“This causes the price to rise further and as more people start to notice the rise they buy in for a quick gain. This continues the cycle.”

Read also: The Real Value of Bitcoin: https://www.cryptolook.io/cryptocurrency-news/the-real-value-of-bitcoin-and-cryptocurrency-technology

Most other major #cryptocurrencies saw major price spikes as well. Ethereum and Ripple have both seen prices improve by more than 13 percent in a matter of hours, and prices are looking to continue.

https://www.cryptolook.io/cryptocurrency-news/bitcoin-18-can-btc-price-reach-10k-this-week