An unanticipated surge in Bitcoin surprises investors 

Bitcoin's surge in price on May 12 and May 13 surprised investors. The prices jumped 11 per cent from $6200 to $7000 in 10 hours on May 12. The price surpassed $7900 on May 13, and the market capitalization increased 16% on the day to 59.8% of the total. 

This was one of the highest since July 31. Analysts assume that the price gains may have been caused by veterans, novices, traders or others who wanted to get liquidated on their shorts. 

Since the retail buyers have not driven the rally, there are other assumptions made by the analysts who think the movement may have been caused by the coordinated trading strategies of some of the leading protagonists. 

• Even the other digital currencies - Ethereum gained 10%, Litecoin 14%, and XRP 4%.  

• The prices increased over 114 per cent from the start of the year, and almost 80 per cent gains were registered in the last 50 days. 

• A $ 1,000 gain was made for the first time since 2017 as it reached the critical resistance below $6400 and created a new yearly high at $7480.  

• In August 2018, bitcoins peaked, where its resistance zone extended in the range of $7390 to $5791, and Yahoo Finance claimed the new levels of gains by 17 per cent ensured a rise in the price of all the five members of the Bloomberg Galaxy Crypto Index. 

• After the initial gains on May 12, CNBC expected the currency to pull back at the $6000 barrier, but BTC pulled just above $7000, and the total volume of the money surged $30 billion. 

• Most experts were expecting corrections at $1000 gains. 

• Cryptohamster predicted that in early April, BTC may run to $7500, where it warned against a massive correction to $4300. 

• Morgan Creek Digital, the hedge fund that invests in blockchain, has made big price estimates where they predicted the gain to reach $20,000 very soon. 

In an interview with BloxLive TV, the company's representative said the price could hit $500,000 due to scarce supply and growing demand.

• BTC worth $356 million was shifted from a single wallet to two different wallets where the transaction contained 48,000 coins. 

• Halving may have impacted the trades, but the price gains came before halving. 

• Blockchain had informed the 14 largest wallets with 48000 balances on December 29, 2018, came to zero with the transaction.  

Grayscale Bitcoin Trust (GBTC), which exclusively trades in the digital currency, indicated an increase in institutional demand for the coins, where it said 80 per cent of the investment in the last year came from accredited buyers and institutional players.

Experts and general investors remained unaware of the changes, as no such predictions supported the gains. Some assume the hike was mostly kicked off by some key players, where a player like Fidelity was launching its trading platform. 

The company manages over $2.4 trillion in assets and opened opportunities for over 30 million customers. Earlier, it wasn't easy to gain access to institutional trading exposure.