Bitcoin Soars Past $8,000
- Cryptocurrency’s value is up more than 700 percent this year
- Three slumps of more than 25% have all given way to rallies
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Bitcoin’s relentless and volatile rally shows no sign of abating, with the world’s largest cryptocurrency defying growing bubble fears to hit yet another milestone.
Bitcoin rose as much as 7.7 percent to a record $8,290 as of 2:47 p.m. in New York. It’s been a tumultuous year for the virtual currency, with three separate slumps of more than 25 percent all giving way to subsequent rallies.