Bitcoin jumped suddenly on Tuesday, following months of relatively low volatility.
Bitcoin jumped suddenly on Tuesday, following months of relatively low volatility in an asset once known for its wild price swings.
Bitcoin also briefly touched the $5,000 mark on the Luxembourg-based Bitstamp exchange. The digital asset has added over $14 billion to its market value in the last 24 hours, according to CoinMarketCap. Experts attributed the price hike to a breakout from a closely watched resistance level of $4,200. Bitcoin had been hovering around the $4,000 mark for several months.
It comes after a massive slump for the cryptocurrency market last year. Bitcoin fell over 76 percent in 2018, and is still well below an all-time high near $20,000 it notched in December 2017.
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