Eric Wade is an Editor and Analyst with Stansberry Pacific Research… Bitcoin Explodes 20% Overnight, Rises Just Shy Of $13,000. After breaching $10K over the weekend for the first time since March 2018, bitcoin has accelerated its sharp move higher and, trading close to $13,000 on Wednesday, up almost 20% in the past 24 hours. It is now up 240% since the start of the year, and even though it remains below its all-time high of nearly $20,000, at the current pace, it will surpass its all-time high in just a few days. The last time Bitcoin rose above $12,000 was in December 2017, when it continued to rally, on some days moving several thousand dollars in hours, eventually reaching its all-time high as $19,511 just before Christmas 2017. That surge, however, was followed by a calamitous drop as retail investors fled, with the crypto dropping below $6,000 by February, and hitting $3000 just months later. All in all, in December 2017 and January 2018, Bitcoin spent about six weeks above $12,000. Will this time be different, is the main question asked by traders. And as usual, the second biggest question posed by traders, investors, speculators and plain old haters is what is the reason behind the move.
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