The price of Bitcoin has sudden crossed $10,200 after staying below the value for some time. There is no definite reasons behind the price jump, however, analysts have stated that the growth could be linked to the statement made by the Chinese President Xi Jinping’s endorsement of blockchain technology and Bakkt sudden growth.
Today, Bakkt announced it set a new daily record of 1,179 Bakkt Bitcoin Futures contracts traded.
Meanwhile, in the last 24 hours, Bitcoin has added close to $3000 to its price. There is high expectation the price may still increase, as we are 6 months to the Bitcoin halving, an event historically analyzed to always have a great impact on the price of Bitcoin.
At some point today, BTC had surged above $10,200 on Binance. During this time, BTC surged by close to 6% within 5 minutes and stayed around $10,270 for a while. In the last 24 hours, BTC has seen over 35% growth.
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.