Bitcoin Price Tears Past $5400 — Newsflash

Bitcoin Price Tears Past $5400 — Newsflash

At the start of this year, Bitcoin was trading at around $1,000.

Currently, Bitcoin is trading at $5,291.

The combined market cap for all cryptocurrencies is once again climbing towards the September 1 high of $172.5 billion, peaking this morning at $171.94 billion.

On 10 October, Russia chose to block access to websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said.

Last month, the Chinese government made a decision to shut down the central exchange of virtual currencies in the country including the most popular one, bitcoin. For the week, bitcoin is up over 30 percent.

U.S. stocks close slightly higher, Nasdaq hits new record
Meanwhile, shares of Equifax declined 1.53 percent after the company said it is investigating another possible cyberbreach. JPMorgan Chase and Citigroup also posted stronger-than-expected quarterly results on Thursday.

Bitcoin's value rose more than 8 percent and stretched above $5,200 on Thursday morning thanks to rising investor interest, according to cryptocurrency news site Coindesk. While Coinbase wouldn't elaborate on what percentage of users will be eligible, it's likely that doing things like completing the company's verification tiers and showing good customer habits over time will increase the odds of being eligible. Whatever might be the reason, it's interesting to see Bitcoin's journey.

Bitcoin extends bull run as prices exceed $5,800. Some are seeing that the Bitcoin bubble is yet to show more progress before bursting and running towards a downward spiral. But determining its value is hard. The decision had been argued as means to prevent the public from shifting to a digital currency instead of using country's own official currency. "For bitcoin no such fundamentals exist".

The bitcoin prices have finally broken through their all time highs and through the $5000 region.

So, why is this rise being witnessed in the cryptocurrency world?

"Investors are seeing the lessons of history in the up-and-coming forks and hoping for an extra dividend", said Charles Hayter, co-founder of data analysis website Cryptocompare, adding that rumours on online forums that China could reopen exchanges could also be affecting the price.

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