Bitcoin’s price has been quite volatile recently, but it seems like things are looking up for the cryptocurrency. On December 21st, Bitcoin (BTC) nearly reached $100,000 after experiencing a significant price surge. This “monster” bounce in BTC prices delivered unexpected upside, causing the coin’s value to increase by over $7,000 in just 24 hours.
Despite institutional trading appearing to make little difference, bulls pushed hard to reclaim the coveted six-figure mark. The absence of institutional trading may have even contributed to the rebound as buyers returned to Coinbase – one of the largest cryptocurrency exchanges in the US – which had previously caused selling pressure due to high volumes.
This sudden increase in demand led to a surge in prices, reaching highs of $99,500 on Bitstamp. While it’s unclear what exactly caused this rally, it’s clear that there’s still strong interest in Bitcoin despite recent market fluctuations.
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