Bitcoin Explodes to $7,000 within 24 Hours; What Caused the Short-Term Rally?

After months of bearish action, the Bitcoin price on Monday soared above $7,000 within a matter of hours.BTC/USD bounced from $6,269 earlier today to establish fresh highs towards $6,950, according to CoinMarketCap, adding approximately $9 billion to its market cap. On some exchanges, including Hong Kong-based BitFinex, the pair skyrocketed above $7,000.
Weak USDT Pumps Bitcoin
The circa ten percent jump was waved by the sell-off of USDT, a USD-pegged token, which didn’t exactly remai