Bitcoin roars back from ‘flash crash’ to breach $8,000 once more

New York: Peak excitement over Bitcoin is back, with the largest cryptocurrency surging again after a “flash crash” at the end of last week that only temporarily dented optimism.

Bitcoin jumped as much as 17% Monday, briefly breaching the $8,000 level. Since the beginning of the year, the original digital token has more than doubled as more mainstream Wall Street firms embrace cryptocurrencies and its underlying blockchain technology. Other digital currencies, including Ether, have also seen double-digit gains.

“A strong breakout would no doubt garner a very large amount of excitement, and opens up the way for a much larger move upward,” wrote Mati Greenspan, senior market analyst at eToro, in a note Monday.