Bitcoin hits a new record high above $5,200

Bitcoin hit a new record high Thursday with rising investor interest causing a rally for the price of the cryptocurrency.

The bitcoin price hit an all-time high of $5,231.28 in early trade on Thursday, according to data from industry website Coindesk. This surpassed the previous high of $5,013.91 hit on September 2.

Bitcoin is now up around 424 percent year-to-date.

Investors appear to have shrugged off much of the negative news from regulators around bitcoin.

Last month, Chinese regulators banned cryptocurrency exchanges with some of the largest in the country shutting down operations. The government also banned initial coin offerings (ICOs), a way for cryptocurrency start-ups to raise money through issuing tokens.

continue reading »

More News