The bitcoin price jumped around 10% yesterday to almost $9,000, touching highs of $8,939 on the Luxembourg-based Bitstamp exchange, before falling back slightly. The bitcoin price is now trading around $8,700, up 70% over the last 30 days and a whopping 120% since the beginning of 2019. GettyThe sudden rise in the bitcoin price caused the value of the wider cryptocurrency market to soar by more than $20 billion, with bitcoin adding almost $15 billion of that. Meanwhile, ethereum, Ripple's XRP, bitcoin cash, EOS, and litecoin all made double-digit gains. While the bitcoin price breakout comes after a few positive developments in the bitcoin and cryptocurrency space, analysts were still left scratching their heads over the exact cause of the rally.

Source: Forbes May 28, 2019 05:37 UTC