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Bitcoin Surges Past $5300 to an All-Time High

13 October 2017, 12:54 | Lionel James

Bitcoin Surges Past $5300 to an All-Time High

Bitcoin Hits New Highs

Most merchants that accept crypt coins as a mode of payment prefer Bitcoins over other cryptocurrencies. Since the start of 2017, the value of the cryptocurrency has increased by 500% this year.

Today, however, the bitcoin price continued to swell after piercing the psychologically-important $5,000 barrier and setting a new all-time high.

That said, Goldman Sachs is reportedly considering offering bitcoin trading and even China is considering easing restrictions of the cryptocurrency. High Bitcoin transactions show the high levels of interests the public has on Bitcoin.

Bitcoin's October rally continued today, enabling the flagship cryptocurrency to finally burst through the $5,000 checkpoint for the first time since briefly touching that mark on September 2.

Heavy rain, gusty wind disrupt life
All thanks to the deep depression prevailing over Gangetic West Bengal and adjoining areas for the last 24 hours. Fishermen have been advised not to venture into the sea till Wednesday morning, the Met department said.

The main reason why the valuation of Bitcoin is rising is due to a rise in demand for the cryptocurrency.

But after dipping below US$3000 in mid-September, bitcoin has leapt in value by more than 75 per cent in four weeks. "For bitcoin no such fundamentals exist".

Traders also seemed to shrug off negative news from Russian Federation, where that "buyers of cryptocurrencies could be involved in unlawful activities". The prices of other digital assets also rose.

"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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