Bitcoin Price surging back like wild fire

Bitcoin surged to the highest level since August, as cryptocurrencies extended their rebound from a slump last month.

Bitcoin rose as much as 6.9% to $7,445, before trading at $7,341.37 as of 7:45 a.m. Hong Kong time on Sunday, according to Bitstamp.

All five members of the Bloomberg Galaxy Crypto Index are up more than 10% since Friday, based on pricing from Bitstamp and Bitfinex.

The price of Bitcoin, the biggest cryptocurrency, has more than doubled since its Dec. 14 trough and is now rising for a sixth-straight day on Bitstamp.

The decade-old token surged as intensifying trade tensions hammered global stocks in the past week to set fresh milestones for Bitcoin’s wild ride after it crashed last year from 2017’s peak above $19,000.

Bitcoin is on the comeback trail and it’s building momentum by the day.