The cost of bitcoin only surged to a 20-month high

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Bitcoin is carrying a good weekend.

Since Friday morning, a cost of bitcoin has increasing 15% and quickly reached $530. That’s a cryptocurrency’s top cost given Aug 2014, when bitcoin traded around $532. The marketplace value of all bitcoin in dissemination crossed $8 billion.

Bitcoin went on a large run over a weekend

There are opposite theories about what’s pushing a increase. Zerohedge tied a price to an boost in trade volume and direct for bitcoin from China. Investors there are shopping adult bitcoin during around $573. A investigate news by attention announcement Coindesk in early 2016 estimated that trades involving Chinese yuan now comment for 95% of bitcoin’s trade volume, up from 80% in May 2015.

Another intensity cause is ethereum, a digital-finance height that has captivated a seductiveness of Microsoft, IBM, and consulting hulk Deloitte. Ethereum, and a practical banking ether, had a good week. Coinbase, one of a best-funded bitcoin startups, confirmed to Quartz that it would support sky trade on a new GDAX exchange. But, a cost of sky has depressed over a past few days, leading some to wonder about any association between two.

Coindesk couldn’t identify

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