RATE Group | Bitcoin Just Jumped $400 In 20 Minutes But It Might Not Last
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Bitcoin Just Jumped $400 In 20 Minutes But It Might Not Last

22 Aug Bitcoin Just Jumped $400 In 20 Minutes But It Might Not Last

Posted at 10:48h in Bitcoin News by

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A visual representation of the digital currency Bitcoin sinks into water on August 15, 2018 in London, England. Most digital currencies including bitcoin, (BTC) ethereum, (ETH) ripple (XRP) and stella (XLM) have seen a dramatic fall in their prices throughout 2018 amid a mass sell-off. (Photo Illustration by Dan Kitwood/Getty Images)

The bitcoin price leaped last night, adding some $400 in just 20 minutes — but details of the price spike suggest it may be short-lived.

The jump in bitcoin price came ahead of a decision expected today from the U.S. Securities and Exchange Commission into two proposed bitcoin exchange-traded funds (ETF).

However, bitcoin has been trading sideways all week ahead of the decision, with little to no indication investors were about to pile into bitcoin or other cryptocurrencies.

The bitcoin price jump pushed it over $6,600 for the first time in weeks.CoinDesk

Many observers noted the sharp rise in…

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