RATE Group | Bitcoin price soars over $8,000 and volumes are spiking
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Bitcoin price soars over $8,000 and volumes are spiking

25 Jul Bitcoin price soars over $8,000 and volumes are spiking

Posted at 15:36h in Bitcoin News by

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Action on some of the largest trading venues in crypto is heating up as the price of bitcoin, the largest digital currency, approaches $8,500 a coin.

Bitcoin, which spent much of 2018 in the doldrums, has seen its price soar by nearly $1,000 over the last week, reaching a two-month high on Tuesday. At last check, the cryptocurrency was trading at $8,217 a coin.

At the same time, crypto volumes — digital currencies changing hands — on exchanges have seen a spike in activity. And bitcoin bull Tom Lee, head of research at Fundstrat , says it’s a meaningful signal that the bitcoin bottom is behind us.

“It’s more evidence supporting a bottom,” Lee said in an e-mail to Business Insider.

According to Bloomberg data, bitcoin bottomed out at $5,791 on June 29. As for how high bitcoin can go in 2018, Lee has …

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