After seeing colossal gains on the day, Bitcoin has broken back into the 10,000 range.
Disclaimer: This news is breaking and will be subject to updates.
Oct. 26 — Bitcoin (BTC) is back above $10,000 for the first time since Sept. 22 after seeing massive gains of 36% on the day as of press time.
Images courtesy of Coin 360
Currently at $10,146, Bitcoin has seen an amazing 24 hours. It had been lingering in the $7,000s range since Oct. 23.
Only 9 hours ago, Cointelegraph reported on a sudden BTC surge to $8,500. It consolidated at that point until roughly two hours ago, at which point it began another impressive rise.
According to one commentator, this was Bitcoin’s “4th largest gain in history and largest since May/10/2011 (if comparing against daily returns).”
Price data courtesy of Coin360.
The sudden bull run has left many speculating. Some attribute it to Chinese President Xi Jinping’s encouragement of blockchain development earlier in the day.
Others may attribute it to the rise in Bakkt’s success, with the platform seeing an all-time high of 1,179 Bakkt Bitcoin Futures contracts traded.