Tech

Bitcoin has just broken another all-time record at US$4,000 and continues to rise


The price of bitcoin broke through US$4,000 per coin on Sunday and is still above the symbolic level in early trade on Monday.

Bitcoin crossed the US$4,000 mark at close to 1:00 am on Sunday and stands at US$4,056.80 at the time of writing (2.10 am EDT).

 

Iqbal V. Gandham, UK MD of trading platform eToro, said in an emailed statement: “Bitcoin hitting US$4,000 is another milestone in long list of big moments the cryptocurrency has witnessed in recent weeks. Following a fall to US$1,800, it has come back strongly and relatively steadily. This is encouraging.

“Furthermore, the ecosystem is also getting stronger. You now have more places to spend Bitcoin, more regulators thinking about the right infrastructure, and more investors learning about the asset. Speculation is rightly moving away from price and focusing on use cases.”Markets Insider

Bitcoin has been on an incredible rally this year, up over 300 percent since the start of the year. The digital currency only passed US$3,500 for the first time earlier this month.

Elsewhere in the cryptocurrency space, Bitcoin Cash, the new cryptocurrency that was split off from bitcoin at the start of the month, is also rallying strongly.

Bitcoin Cash is up 6.99 percent to US$319.25.

Bitcoin cashMarkets Insider

Ethereum, the other major cryptocurrency, is rallying too. The digital currency is up 7.45 percent to US$319.76 on Monday morning in London.

Markets Insider

This article was originally published by Business Insider.

More from Business Insider:

 



Source link

Articles You May Like

Astronomers Have Found Potential Life-Supporting Conditions on The Nearest Exoplanet
Lost, Confused Sea Creatures Keep Washing Up on California’s Beaches
The Lyrid Meteor Shower Is About to Kick Off, Here’s How to Watch
Turns Out Great White Sharks Are Really Scared of One Other Ocean Creature
Unnerving Footage Shows Boston Dynamics’ Robot Dogs Casually Pulling a Truck

Leave a Reply

Your email address will not be published. Required fields are marked *