China, Whales, New Buyers or the Reward Halving? Why Bitcoin Is up 60% in Two Weeks4

Bitcoin has made a leap in the past fortnight. Granted, the rally started two months ago. However, it’s in the past two weeks that the digital currency has made the biggest gains. Currently trading at $7,900, it hit $8250 earlier today, a level it last hit close to a year ago. The other cryptos have also followed the example set by their leader, but BTC has been the biggest gainer by far.

The biggest question, and rightly so, has been why the sudden spike? The first logical conclusion is the continued warming up by major retailers into crypto payments. As we reported yesterday, global giants such as Whole Foods, Nordstrom and Starbucks are now accepting a variety of cryptocurrencies as payment. Nevertheless, the rally started way before Gemini and Flexa announced the partnership that enabled the payments.

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