Within the past 24 hours, the price of Bitcoin has surged from $5,600 to $6,054, by over $400 in a single day. Cryptocoinsnews previously reported that the major correction which the cryptocurrency market had endured on October 18 would place Bitcoin at a more favorable position to initiate a new rally.

“The recent correction of Ethereum, Ripple, Bitcoin, and other cryptocurrencies in the market would allow the global cryptocurrency market to stabilize and restructure, building a better platform to rebuild momentum and initiate strong rallies,” Cryptocoinsnews reported.


Source https://www.cryptocoinsnews.com/bitcoin-price-hits-6054-factors-behind-new-time-high/