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Bitcoin rises above $8,000 for the first time since March following a dramatic price spike. The price of bitcoin has shot up by more than $1,000 in a bizarre price spike for the cryptocurrency. The volatile virtual currency rose from below $7,000 to briefly reach above $8,000 in an unprecedented surge that follows several months of steady decline. It is not yet clear what has caused the value to increase by such a large amount, with some analysts speculating that breaking the $7,000 price point sparked a surge in bitcoin investment. The price gains represent a 12 per cent increase since this time yesterday and a 14 per cent increase week-on-week. In the last year, bitcoin has risen by over 500 per cent in value. At the time of writing, bitcoin was trading at around $7,700 on the Coinbase exchange. Bitcoin price latest: Cryptocurrency value rockets by more than $1000 in bizarre surge
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