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Bitcoin surged Thursday more than 17 percent in a sudden move to above $8,000 at one point, according to trading on Coinbase. The cryptocurrency hit a high of $8,011 on Coinbase. Trading was volatile and it was 15 percent higher near $7,715 as of 8:54 a.m. ET, according to Coinbase. Bitcoin leaped from a low of $6,786 Thursday morning and some traders are watching whether it can hold above $7,500. The sudden jump forced traders who had bet against the cryptocurrency to buy back into the market. “Once [bitcoin] broke higher, shorts were squeezed and forced to cover,” said Brian Kelly, CNBC contributor and head of BKCM, which runs a digital assets strategy for clients. Bitcoin surges 17% in sudden move to above $8000
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