Bitcoin price shoots up toward $48,000, adding $4,000 within hours

Bitcoin price shoots up toward $48,000, adding $4,000 within hours

The price of bitcoin has broken above the $44,000 mark, reaching highs just shy of $48,000 in a matter of hours. It is very volatile, but its current price is in the low $47,000's at time of writing.

The surge in prices has seen $241 million in bitcoin shorts liquidated, according to bybt. There have also been plenty of long liquidations too, with $116 million liquidated so far today.

This comes on the same day that El Salvador has officially started mining bitcoin, although it is still in its experimental stages. The country has mined 0.0059 BTC so far, worth $260, using geothermal energy from volcanos.

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