The Bitcoin price has reached 20-month high and the market can't understand why!

From last Friday morning, the price of Bitcoin has jumped by 15% and briefly reached $530. This is the highest price on cryptocurrency since August 2014, when the Bitcoin was trading at $532 level.

The total capitalization of the total turnover in a such way Bitcoin reached $8 billion, reports Quartz.

Presumably there are a few reasons that could happen to a jump in prices. Portal Zerohedge linked price increase with an increase in trading volume and demand for Bitcoin in China. There cryptocurrency investors buy for $573. This assumption is confirmed by a study of the specialized publication Coindesk, published in early 2016. According to it, trade Bitcoins using the Chinese yuan is 95% of all transactions cryptocurrency, against 80% in May 2015.

Another possible factor is the increased cost of Ethereum, digital financial platform, which caught Microsoft attention, IBM and Delloitte. In Ethereum and ether virtual currency last week was also successful. One of the most successful Bitcoin startups in the context of investment attracted Coinbase said about support the ether trading on new Exchange GDAX. Although the price of ether decreased over the past few days.

Coindesk could not give a clear explanation of the current rise in prices. Peter Zikovski, COO of the company Trade Bitcoins Whaleclub said to Coindesk: "There is no clear motive or catalyst, which is behind the recent increase in prices".

And what do you think about Bitcoin jumped price?

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