Bitcoin surged Thursday more than 17 percent in a sudden move to above $8,000 at one point, according to trading on Coinbase.
The cryptocurrency hit a high of $8,011 on Coinbase.
Trading was volatile and bitcoin was about 11.5 percent higher over the last 24 hours near $7,700 as of 3:31 p.m. ET, according to Coinbase. Bitcoin leaped from a low of $6,786 Thursday morning and some traders are watching whether it can hold above $7,500.