Bitcoin’s Big Boom: What Caused Today’s Bull Run?

We woke up today thinking it was going to be just like any other day in the crypto world but things seem to have taken a turn… for the better!

Today, Bitcoin has seen some big price gains with the price now over the $4,500 mark at the time of writing. Now it seems that this outbreak has been in the works for the past week or so since the leading digital currency has been doing well for a few weeks or so with not much losses and some decent stability.

Bitcoin has now surged more than fifteen percent at the current time of writing leaving it with a price of $4,784 which is the highest it has been in months.

Over the past day, several green candles have pushed the price of Bitcoin in a positive way, the source of the big purchases is unknown although it is likely that a whale or two could be egging the market on into more action.

Of course, whenever Bitcoin goes on a bull run out of nowhere, questions are raised as to why it has done such a thing. Some enthusiasts have raised their concerns that this could be price manipulation.

So where there are some people that are skittish on the newfound, other people believe that this is a key sign that the bear market could be coming to its end once and for all.

If you take a look onto CoinMarketCap, you can see that Bitcoin hasn’t just surged on its own, as the rest of the market has gone along with it. ETH is now worth just under $160, XRP is worth $0.34 and Litecoin is worth just over $69.

This is of course great news for the market but only time will tell as to whether it will have a long-term impact on the market.

Many are optimistic on this sudden bull run but with Bitcoin being something that isn’t just new but is volatile and unpredictable, it’s hard to say what the future will hold.