According to one analyst, this move would be linked to a single buyer who would have passed a colossal order to make up the course.
Risk-tolerant investors could consider buying the ProShares Bitcoin Strategy exchange-traded fund, which tracks the price of bitcoin futures.
Speculators, the bets on the bitcoin futures price going down by 6,238 contracts, according to a recent report from New York-based financial firm Macro Risk Advisors.
While profits are possible from a probable bounce in the bitcoin price, that doesn’t necessarily make bitcoin a good long term bet.
Fellow at the Johns Hopkins Institute for Applied Economics, Global Health and the Study of Business Enterprise.