This June 17, 2014 file photo taken in Washington, DC shows bitcoin medals.
/ AFP / KAREN BLEIER
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Bitcoin burst to its highest level in almost five months Tuesday, sending smaller cryptocurrencies up, with analysts ascribing the move to a major order by an anonymous buyer that triggered a frenzy of computer-driven trading.By late morning, it had settled at around $4,700, still up 15 percent in its biggest one-day gain since April last year.As bitcoin surged, there were 6 million trades over an hour, Hayter said -- three to four times the usual amount, with orders concentrated on Asian-based exchanges.Bitcoin's surge sent smaller cryptocurrencies, known as "altcoins," trading higher. Ethereum's ether and Ripple's XRP, respectively the second- and third-largest coins, both jumped by more than 10 percent. Cryptocurrency markets have been relatively calm so far this year, with bitcoin trading until today between around $3,300 and $4,200 .
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