Anyone who has invested in Bitcoin might be surprised to see a sudden spike today, marking a 10-day high.
The cryptocurrency picked up a bid near $32,000 at around 08:30 UTC and jumped to $37,050, the highest level since Jan. 19, according to CoinDesk 20 data. The 15.7% rise happened in less than 15 minutes and more than reversed the early dip from $34,400 to $32,000.
Whilst the exact reason for this is hard to define, it seems that prices started surging after Tesla and SpaceX CEO Elon Musk changed his Twitter bio to #bitcoin.
Reflecting Musk’s huge social media influence, Google searches for “bitcoin” surged following his bio change.
The latest price rise marks an upward break of the recent $30,000 to $35,000 trading range. The cryptocurrency is currently trading near $36,100.