Markets Insider
- Bitcoin surged Thursday morning, spiking more than 14% in less than an hour.
- You can track the price of bitcoin in real-time here.
Bitcoin surged more than 14% in less than an hour Thursday morning, briefly passing the $8,000 level that it has not seen since March.
It's the biggest intra-day gain for bitcoin in almost two months, according to historical data from CoinMarketCap.
Despite the steep gains, the price is still less than half of its record high of $19,843 set in December. Earlier this week, Barclay's said bitcoin is unlikely to ever top that record again, based on modeling that compares the cryptocurrency to the spread of a virus like influenza.
Other major cryptocurrencies were also in the green Thursday, though not nearly as high as the flagship bitcoin. Ethereum was up 7% and Ripple's XRP was up about 3%.
Bitcoin is down 42% since the beginning of 2018.
NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown
See Also:
- 8 photos of the Tu-160M2, the new long-range super bomber that Russia's answer to the B-1B Lancer
- Paul Ryan's decision to wait until January to retire includes an under-the-radar benefit
- TOM LEE: There's a $25 billion reason bitcoin could stop plunging by mid-April
SEE ALSO: Bitcoin will likely never hit another record high, Barclays says
