Bitcoin is gaining strength again. A week after it crossed the $5,000 mark, the cryptocurrency has surpassed $6,000. According to Coindesk, the price of one bitcoin touched $6,003 before slipping back to $5,970.21 at 15:10 UTC. It has appreciated by more than 467% this year. (See also: Bitcoin Price Steady As Analysts Predict $25,000 Target.) 

The price gain today caps a dramatic fortnight for the currency. It started the week on a buoyant note and racked up rapid gains in its march towards the $6,000 mark. However, it reversed trajectory in the last couple of days and registered its biggest decline this month, falling by as much as $500. (See also: Bitcoin Price Falls Into Correction Territory.) Early this morning, it held steady in the $5,600 range. Trading volume for the currency shot up, however. According to Coinmarketcap, bitcoin had 2.1 billion trades this morning. On October 15, its trading activity was 1.7 billion. (See also: How To Buy Bitcoin). 

There are two reasons for the surge in bitcoin’s price today. The first reason is increased capital flow into the currency. According to Alex Sunnarborg, founder of Tetras Capital, there has been a massive flow of capital into the currency within the last 24 hours as compared to the amounts flowing into other cryptocurrencies. The second reason is the prospect of an impending split in bitcoin’s blockchain. As institutional and community support for the split wanes, the original bitcoin is expected to emerge stronger after the event. The cryptocurrency reached record highs after its first split in August. The latest split is scheduled to occur in November.

While they have differing takes for bitcoin’s future gains, most analysts and investors are of the opinion that the cryptocurrency will rise further. For example, Tom Lee of Fundstrat Global Advisor has predicted that bitcoin’s price will reach $25,000 within the next five years. He set a $6,000 price target for the currency next year. Billionaire Michael Novogratz has said that bitcoin will reach $10,000 in six to 10 months. (See also: New $500 Million Hedge Fund Will Focus On Cryptocurrency.) 

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