Cryptocurrency experts and users alike are scrambling for an explanation Tuesday after Bitcoin prices increased by $ 700 in around 45 minutes.
Bitcoin Jumps $ 700 In Under 1 Hour
After a week of range-bound trading between $ 6150 and $ 6750, BTC/USD suddenly broke out, topping $ 7000 in five minutes and going on to reach highs above $ 7500 on some exchanges. The price currently sits at 00.
On social media, commentators were scanning the internet for the major news they assume had triggered the price rise.