Last week I wrote about bitcoin’s most recent price surge. At the time, the price was at around $7,500–a $1,000 bump from a few days prior. And it seemed like the momentum would continue.
Indeed, early this morning the price surge continued, with the cryptocurrency hitting a high of $8,342.62, according to Coindesk. It’s since gone down slightly to about $8,239, but is still up over 6%.
There are a few factors at play that could be contributing to this surge:
While this price boom is nowhere near the level where bitcoin was performing at last year, it does give investors some hope that the cryptocurrency will rebound. The next big milestone will be if it can exceed $10,000 again.