Bitcoin Has Another Quick Spike as Weekly Rally Surpasses 20%

(Bloomberg) -- Bitcoin jumped suddenly for the second time in as many days, extending its weekly gain to more than 20 percent.

The world’s most traded cryptocurrency climbed nearly $400 in the span of an hour on Friday to $8,175, hitting its high of the day around 9 a.m. in London. While the trigger for the advance was unclear, it followed a similarly rapid gain of more than $1,000 on Thursday.

To contact the reporter on this story: Michael Patterson in Hong Kong at mpatterson10@bloomberg.net.

To contact the editor responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net.

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