Bitcoin reaches new high as it approaches $5300

Share

It's the first time the cryptocurrency has confidently shot past $5,000.

Reports have recently emerged stating that trading in the currency could resume but with increased regulation.

On the USA -based Bitfinex exchange, bitcoin rose to $5,228.3 up $403.5, or 8.36%, exceeding a previous high of $5,013.91 reached on September 2.

Bitcoin, the biggest and best-known cryptocurrency, has chalked up a more than fivefold increase in price this year. The cryptocurrency dropped to a low of $2,980 in mid-September on the news China had banned token sales and that local cryptocurrency exchanges would shut in the aftermath.

Clues few and elusive for motive of Las Vegas gunman
If someone recalls even something slightly off about the shooter, they said, the detail could be helpful in the investigation. He declined to reveal what they had said, but stated: "Every piece of information we get is one more piece of the puzzle".

As we previously reported, the growth can be linked to several factors ranging from political concerns to a recent split into two currencies - the first being Bitcoin classic and Bitcoin cash. Majority of cryptocurrency transactions occur in the Bitcoin network. But determining its value is hard.

The price of Bitcoin reached an all-time high, smashing through the $5,000 mark as it rebounds from a short period of uncertainty. The bitcoin price has continued to climb on every major cryptocurrency exchange, and it has now risen to a record $5,419 on Bitfinex.

Russia's central bank also said it would block websites of exchanges that are offering cryptocurrencies.

Share