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Bitcoin investors were in for a wild ride over the weekend, with the cryptocurrency trading below $3,700 and then an hour later trading around $4,135. This recent bitcoin price surge comes on an all-time high of $3,000 set a week ago.
While there’s no one reason why bitcoin surged so much over the weekend news from TechCrunch pointed to a handful of reasons. For starters, confidence in the virtual currency is increasing after bitcoin went through a so-called hard fork without suffering, and then a few days later it installed a code modification dubbed SegWit that fixes malleability issues as well as enables more transactions to be stored in each blockchain. Because of those confidence-boosting moves, TechCrunch speculated it drove the bitcoin price up over the weekend.