Bitcoin Edges To New All-Time High Of $6,000October 20, 2017 10:06 pm
The price of Bitcoin reached a new all-time high again on Friday, breaking above $6,000 briefly on at least one cryptocurrency exchange, according to Fortune.
The surge was a week after bitcoin reached a new record price for the first time in more than a month, surging to $5,800 after rising as much as $1,000 in less than two days.
Bitcoin gained more than 5% on Friday, trading as high as $6,043 on the Hong Kong-based Bitfinex, where investors can buy and sell different cryptocurrencies including Bitcoin, Ethereum, and more.
Coinbase, which is headquartered in San Francisco, the price of Bitcoin was less than $3 shy of the $6,000 mark.
Bitcoin dealt with some harsh criticisms this week, such as when a Russian economic official called it “worse than casinos” which made the price drop to as low as $5,174 on Wednesday.
But it’s since risen 16%, and over the past 10 days has collectively gained more than 24%.
Comments from former Federal Reserve chair Ben Bernanke and by J.P. Morgan CEO Jamie Dimon also criticized the cryptocurrency this week.
But bitcoin enthusiasts are hoping to release a Bitcoin exchange trading fund, a product that would trade on the regular stock market and widen the digital asset to a broader array of investors.
A previous attempt for a Bitcoin ETF was rejected by the U.S. Securities and Exchange Commission.
Digital Currency Group, the investment firm backed by entrepreneur and bitcoin advocate Barry Silbert said they were in talks with the SEC about a potentially publicly traded product, even though the company withdrew its own application for a listing a month ago.
-WN.com, Maureen Foody