Here’s The Reason Why Bitcoin Is Surging In Price

The price of bitcoin jumped more than 2% on Tuesday thanks to a surge in speculative activity in Chinese exchanges.

China’s foreign exchange reserves have been dropping but trade volume in Chinese bitcoin exchanges such as OKCoin was 14,500.

This is a level not seen since the end of January, according to market data site TradeBlock.com.

China’s foreign exchange reserves fell by $12.3 billion in January to $2.998 trillion.