Volatility has roared back into the world of digital currency.
After keeping a fairly low profile for the past few months, Bitcoin exploded yesterday, with its value gaining 17% in 30 minutes, putting it at its highest level since early December, momentarily hitting $5,080.
After some mild selloffs taking advantage of the spike, the cybercurrency was on the rise again Tuesday. As of 11:00am ET, Bitcoin prices stood at $4,746, according to CoinDesk.
Most major cybercurrencies are following the same pattern. Ethereum is up more than 9% since Monday morning. Bitcoin Cash is up nearly 18%. And Litecoin is up 14%.
There did not appear to be a specific reason for the surge other than improving investor sentiment in digital currencies. Bitcoin has been trading steadily in the $3,500 to $3,800 range for several months after its collapse last year. It began to show signs of life in March with its first monthly gain since July 2018. Once it topped…