Published: Fri, October 13, 2017
Business | By Max Garcia

Bitcoin Prices Push Through $5000 and on to All Time Highs

Bitcoin Prices Push Through $5000 and on to All Time Highs

So, a team of cryptocurrency developers is open-sourcing technology that enables trust-less trading between a bitcoin and ethereum blockchains.

Coinbase just announced that users can instantly purchase cryptocurrency and have it be funded from a US bank account. Looking to the future, he believes "the price of bitcoin will need to be significantly higher than $5,000" to fulfil its role as a means of exchange.

RT.com tweeted that Bitcoin's market capitalization is now approaching $97 billion - a staggering figure for the open source, decentralized alternative currency.

"Reducing the time to receive digital currency has been a highly requested feature and we are pleased to provide this improved experience for our customers", says Coinbase.

A second theory is that investor confidence was boosted when Bitcoin successfully split into two earlier this year, resulting in the creation of a cheaper offshoot called Bitcoin Cash. Judged by the NVT metric, the price may well have much further to go, although it's not quite as simple as that.

The first is speculation that trading of the currency could soon resume in China following a crackdown on domestic exchanges.

Bitcoin is now the most-valuable cryptocurrency, with a market cap of over $93 billion at the time of writing this article.

Bitcoin exchange Coinbase has announced the addition of instant purchases for transactions made with a USA bank account, enabling investors to buy bitcoin, ethereum, and litecoin instantly without having to wait for the bank transfer to clear.

Bitcoin has traded as low as $5,172 and as high as $5,854 on the Kraken exchange in the past 24 hours, and at the time of writing is priced at $5,625, up 3.4%. The exchange explains that the availability of this option will be expanded in the coming months. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

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