Bitcoin Spikes 7% to $8,460 Overnight

After dipping below $7,300 on most major cryptocurrency exchanges, the price of bitcoin has spiked 7 percent overnight, increasing from $7,240 to $8,467, triggered by a variety of factors.

Many analysts have attributed the recent increase in the price of bitcoin to the result of the 2018 G20 Buenos Aires summit, during which the Financial Stability Board (FSB), the global watchdog that oversees banks and financial networks as a representative of 20 major economies, stated that existing regulations on cryptocurrencies like bitcoin will be held and no additional restriction or regulation shall be issued.

Reference: https://www.ccn.com/bitcoin-spikes-7-to-8460-overnight-as-cryptocurrency-market-rebounds/

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