- Bitcoin’s price rallied around 3% against the dollar in a space of five minutes on Wednesday morning, the second dramatic price move in as many days for the cryptocurrency.
- Bitcoin gapped past $US8,000 per coin between 7.45 a.m. GMT (2.45 a.m. ET) and 7.50 a.m. GMT (2.50 a.m. ET).
- It’s not immediately clear what caused the spike – analysts had predicted a rise for the cryptocurrency after tax day passed in the US, but the timing is unusual for American traders, given it is the middle of the night in the US.
- Bitcoin had a similar dramatic price move in the other direction on Tuesday. The cryptocurrency dropped by 2% in a matter of minutes in afternoon trade in the US.
- You can follow the live bitcoin price on Markets Insider.
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