The price of bitcoin was trading at $4,116.65 as of 11:20 p.m. EDT, a higher level than its previous yearly high Feb. 28 and prior to that, levels last seen in November.
Why bitcoin has broken through a resistance level of $4,000 is not clear. But data reported by AMBCrypto indicated that the price spike coincides with increased levels of trading.
Although it doesn’t always force prices up, increased levels of trading can indicate an increased level of demand that can result in any given commodity increasing in price: Economics 101. Bitcoin saw a 24-hour trading volume of $11.3 billion with more than a 4% surge in volume within a day.
Read More.. Source Silicon Angle