— A trader at one of the largest Bitcoin exchange sites in the U.S. is warning that the price of the digital currency could plunge as soon as tomorrow.
It’s the latest warning in a series of market events that have been brewing over the past week.
The value of Bitcoin surged nearly $2,500 on Tuesday after a report of a massive hack of a major U.K. Bitcoin exchange that led to the arrest of its chief executive.
That event spurred bitcoin prices to skyrocket, which led to a surge in trading on a number of major exchanges.
As a result, there has been an upsurge in the price.
The latest spike occurred at 5:45 p.m.
ET on Thursday, when the price was at $2.30 a coin, or $6,849.24.
The rise is likely to continue as people try to cash out of bitcoin and invest in assets such as real estate, stocks and gold.
The surge was also driven by speculation that Bitcoin might fall even lower as the FBI and the Treasury Department investigate the attack.
There is no guarantee that the next price jump will be as big as Tuesday’s, but if it happens, it could be the biggest ever.
Bitcoin was trading around $1,200 at one point before it spiked above $2 at 6:06 p.M.
A number of Bitcoin exchanges have reported a spike in their trading volumes.
For instance, Bitfinex, which is a major Bitcoin exchange, reported a whopping 4.5% rise in trading volume last week.
That increase in trading could also be a sign that traders are buying into the Bitcoin market.
For example, a trader at an exchange called Coinfloor, which was the first to open in June, reported that trading volume jumped to over $3,000 on Wednesday.
The volatility of Bitcoin is part of a long-term trend.
As digital currencies gain popularity and become more widely used, investors are looking for more options for their savings and investments.
It’s also a sign of the bubble that is expected to burst in the coming years.
In June, the Dow Jones Industrial Average hit a record high of 24,056.53, and the S&P 500 climbed almost 4%, with the Nasdaq Composite gaining more than 5%.