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Bitcoin price surges to over $8 000 after $5 billion flows into market within hours

  • Bitcoin traded at $7 668 earlier today
  • After more than $5 billion flowed into the market, the price surged to over $8 000
  • At press time it was trading at $8 007 on BitStamp

Well over $5 billion within the last few hours have entered the Bitcoin market. Around lunchtime in the UK, the price of the cryptocurrency was hovering around $7 668. The massive inflow of money, however, boosted it to just below $8 000.

On some exchanges, the world’s top cryptocurrency in terms of market capitalisation traded above $8 000. At press time the price of Bitcoin on BitStamp, one of the oldest cryptocurrency exchanges, was $8 007.

After starting the year at $3 700 this year, Bitcoin’s price has increased by more than 116%.