Bloomberg tries to get to the bottom of what happened today to cause Bitcoin's rally...but no one is sure. Sonny Singh, CEO of Bitpay says he believes it's likely the Asian market providing the momentum, because of the time it began.

The surge does not appear to be manipulation, the price has held and many think after lingering around $4000 for so long, some larger institutional investors called the bottom, and jumped in big.

Video Courtesy of Bloomberg