Bitcoin was flexing its muscles Thursday, showing traders the cryptocurrency can still trade with the enormous swings it did back in the fall.
In early action on Thursday, April 12, bitcoin surged as much as 17% to trade above $8,000 for the first time since March 28. The No. 1 cryptocurrency by market value reached as high as $8,055 before tempering gains to trade near $7,680, according to data from CoinDesk.
Sourced through Scoop.it from: www.thestreet.com
Is this the signal we been waiting for, to mark the start of a price recovery? Or is this just another false positive? It is best to wait for at least 48 hours before we can make any assumptions of it being another bull trap.