Bitcoin prices have been in a bit of a slump lately, seemingly hit with endless news cycles of clampdowns and stifling regulations. That narrative apparently changed Thursday, with Bitcoin prices surging over 16 percent in under thirty minutes, carrying the rest of the altcoin market with it.
For unknown reasons, Bitcoin prices have surged to new April highs, storming temporarily above the $8,000 level. The jump is noteworthy given its recent erosion below $7,000, after being down to as low as $6,800 earlier today.
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At the time of writing, the price of Bitcoin is trading at $7,914, with Ethereum also surging 12.8 percent to $467. Litecoin is also operating at $124 (8.7 percent gain), with Ripple at $0.55 (13.4 percent gain). Proponents of cryptos have been waiting for such a jump for over a month now.
Indeed, any prolonged explosion of crypto prices, a commonplace occurrence in 2017, would be welcome for markets that have seen a steady decline in Q1 2018. Finance Magnates will update the situation as it continues to develop.