Bitcoin Climbs to $6,300 Before Retreating

Investing, News | October 30, 2017 By:

A resurgent bitcoin briefly went up to $6,300 in single-coin pricing today, hitting an all-time high before falling back to earth at just over $6,000.

Bitcoin Cash was the weekend’s big winner, soaring to over $520 per single coin before falling back to earth today at a still-high $444 at mid-day. No apparent reason for the pump was evident, as Bitcoin Cash has been in a narrow trading range between $320-$350 for weeks.

Massive trading volume is responsible for the surge. From a typical $200 million or less in volume, Bitcoin Cash erupted to $1.71 billion. Why that happened and who is responsible are still unknown.