Sudden surge gives bitcoin its best day of 2019

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.

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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.