Bitcoin price is up another 14% today as the cryptocurrency briefly surpassed the $8,000 level, currently trading at $7,963 on Bitstamp. The recent bull run began on April 30th and the cryptocurrency has almost doubled in price in the past 2 weeks. Some analysts believe that Bitcoin will reach the $9,000 level in the next few days or weeks after which it will test the $10,000 level.
Despite what you may have read on the news, the real reason behind the recent bull run is unclear. There have been a series of events that should have impacted cryptocurrency prices negatively, but the recent market proves that crypto has a mind of its own and is not necessarily affected by current events. Many thought that the Binance hack, the recent siezure of the darknet marketplace Wall Street Market and the take down of Deep Dot Web would have negatively impacted the market, however as we have seen Bitcoin’s bull run only intensified.