Economic news

Bitcoin is at its highest ever

On Sunday Bitcoin set a new record of $6,306, sliding to around $6,170 the next morning. Preceding maximum happened over a week before that, attaining $6,060, though afterwards it dropped significantly to $5,374, subsequently it balanced out, and eventually made it to Sunday’s level.

Among the causes of its recent fall some analysts cited the appearance of Bitcoin Gold, because possessors of Bitcoin at the time of new currency start would receive the equal number of Bitcoin Gold. So chances are that people holding Bitcoins invested into the currency before the event and then withdrew their funds.

Recently no news relating to Bitcoin came to the front, except for the statements of the market resembling to bubble. Among those are Warren Buffett’s and Saudi prince’s, who compared the cryptocurrency to the bankrupt Enron.

However Bitcoin is not alone in having a good time. For instance, Bitcoin Cash, which emerged back in August, jumped over 20%, Ether – a virtual currency of the Ethereum network – climbed over $300. As for market capitalization – Bitcoin reaches $102.6 bln, Bitcoin Cash is $7.8 bln, while Ether – $29.5 bln.


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