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emfizz.com October 19, 2017


$5419: Bitcoin Price Goes Meteoric After Hitting All-Time High

13 October 2017, 12:50 | Jan Cross

Bitcoin rockets past $5200 price to reach all-time high

Bitcoin hits another record high as it climbs above $5 000

Bitcoin surged to a fresh record on Thursday as the enthusiasm for cryptocurrencies showed little signs of abating.

After the beginning of 2017, Bitcoin has had a daily trade volume of more than $100 million.

"It would not surprise me if, in the next six to 10 months, we're over $10,000", Novogratz told CNBC on Tuesday. Beijing last month moved toward a broad clampdown on bitcoin trading, helping to put pressure on prices for virtual currencies.

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Bitcoin has raised in value by more than 75 per cent in the last four weeks.

The cryptocurrency is highly controversial, with JP Morgan boss Jamie Dimon saying that it was only suitable for drug dealers, murderers and people living in North Korea. Banks and other financial institutions have been concerned about bitcoin's associations with money laundering and online crime. This gave bitcoin a market cap of $90 billion; for reference, the total cryptocurrency market cap reached that mark for the first time on May 24 and had fallen to $98 billion as recently as September 15. Nettles said interest had been much higher than anticipated and has come from banks, hedge funds and brokers. Bitcoin began the year near $1000 and has been on a tear ever since. Just like other currencies, bitcoins can be exchanged for goods and services - or for other currencies - provided the other party is willing to accept them.



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