Bitcoin nears $8,000 benchmark as massive cryptocurrency price spike prompts some head-scratching


Bitcoin nears $8,000 benchmark as massive cryptocurrency price spike prompts some head-scratching

After an extensive slump since the end of last year, Bitcoin prices have now spiked to a nine-month high of almost $8,000, leaving analysts and enthusiasts questioning what might have caused the sudden uptick.
Sitting at around $5,000 at the beginning of May, prices had surged by nearly 40 percent within a single week as of Monday. Despite slight corrective fluctuations, Bitcoin appears to be on course to break the $8,000 limit, having already surpassed the current yearly highs.

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