The Tell: Bitcoin jumped as much as 20%: Here’s what experts are saying about the move

Even the most ardent bitcoin maximalist would agree it’s been a difficult 12 months for the world’s best-known digital currency. After trading near $20,000 in late 2017, the best-known cryptocurrency tumbled as much as 80%, demolishing portfolios and ending dreams of early retirements.

But on Tuesday, bitcoin BTCUSD, +14.66% stormed back, climbing as much as 20% and trading above $5,000 for the first time in more than four months. It remains up nearly 15% on the day, trading at $4,752 in recent action.

While bitcoin holders, or HODLers — the colloquial term for those that refuse to sell their bitcoin — are counting their chips, others are scouring websites and forums asking: what’s behind the surprise surge in the value of the digital currency?

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