Sudden surge gives bitcoin its best day of 2019
![Bitcoin.](https://cdn.mos.cms.futurecdn.net/kHHt3WhPHQa7mxJNRbZQLA-415-80.jpg)
For the first time in months, bitcoin owners have a reason to rejoice.
The cryptocurrency had its biggest surge in trading power this month on Friday, trading up about 9 percent and coming out to $3,682 a coin, reports Business Insider.
Bitcoin is now on track for its biggest daily gain of the year, per Market Watch, after a period with a low volatility index. The spike came after Securities and Exchange Commissioner Robert Jackson said that he expects a crypto exchange-traded fund eventually.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
All cryptocurrencies rose by $6 billion in market value in less than 30 minutes, per Market Watch. Despite the gains made today, bitcoin is still feeling the effects of the 70 percent plunge in market value that occurred over the course of 2018.
The surge encouraged many bitcoin owners to capitalize on today's gains. "There are quite a few customers taking advantage of this rally, we are definitely seeing a lot of profit taking," Lennon Sweeting, director and head trader at Coinsquare Capital Markets Ltd., told Market Watch.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Marianne is The Week’s Social Media Editor. She is a native Tennessean and recent graduate of Ohio University, where she studied journalism and political science. Marianne has previously written for The Daily Beast, The Crime Report, and The Moroccan Times.
-
Big Tech's answer for AI-driven job loss: universal basic income
In The Spotlight A new study reveals the strengths and limitations
By Joel Mathis, The Week US Published
-
'I will not be silent' on Gaza, says Kamala Harris
Speed Read In a meeting with Israeli Prime Minister Benjamin Netanyahu, Harris supported Israel's right to defend itself while expressing a desire to end Palestinian suffering
By Arion McNicoll, The Week UK Published
-
'How long can TikTok dominate as a social network?'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Puffed rice and yoga: inside the collapsed tunnel where Indian workers await rescue
Speed Read Workers trapped in collapsed tunnel are suffering from dysentery and anxiety over their rescue
By Sorcha Bradley, The Week UK Published
-
More than 2,000 dead following massive earthquake in Morocco
Speed Read
By Justin Klawans Published
-
Mexico's next president will almost certainly be its 1st female president
Speed Read
By Peter Weber Published
-
North Korea's Kim to visit Putin in eastern Russia to discuss arms sales for Ukraine war, U.S. says
Speed Read
By Peter Weber Published
-
Gabon's military leader sworn in following coup in latest African uprising
Speed Read
By Justin Klawans Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published