Bitcoin went on a tear in early morning trading earlier today, popping up to above $4,900 and reminding some investors of the good old days of 2017.
The currency is still trading up above 15% at $4,782.60, which is a healthy jump for the cryptocurrency (which had languishing at around $4,000 for the past three months). Indeed the price was up over 25% over the previous month, according to Coinbase.
Bitcoin’s surge also sent the other top cryptocurrencies, including Ethereum and Litecoin soaring.
No one can quite pin down the reason for the currency’s surge, given the string of bad news that has unspooled around the cryptocurrency business in the past few weeks.
Despite an April Fool’s Day article to the contrary, the Securities and Exchange Commission still has not approved an exchange traded fund that would track to the cryptocurrency. And one of the big [...]