Bitcoin Price Plunges $400 Overnight But Clings to $5K Support

Bitcoin price fell $400 in minutes April 3 but broadly held onto support above $5000 as the enthusiasm from this week’s bull run continues. $5000: Bitcoin’s New Home? Data from cryptocurrency exchange Bitstamp, which tends to deliver slightly more conservative price information than many mainstream platforms, showed bitcoin price hitting a high of $5332 before retracing Thursday. The gains, which began earlier this week when bitcoin suddenly jumped from $4170 to $5000, mean Thursday saw the highest bitcoin price since November 18 last year. That date was just days after a contentious hard fork on Bitcoin Cash (BCH) caused significant market volatility, leading BTC into a downward spiral which saw lows of just $3130 weeks later. With its latest surge, bitcoin has definitively recovered from the event, reattaining its pre-fork levels for the first time. At press time, BTC/USD was hovering around $5010 on Bitstamp, having bounced through $5000 once…

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