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Bitcoin soars 7% settles above $5.000

12 October 17 - RE+D Magazine
Bitcoin soars 7% settles above $5.000

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Antulio Richetta

Director IBI Group
Bitcoin has broken above its previous high of $5,000, rising as much as seven per cent today.

 

The cryptocurrency's value plunged last month on reports that China was set to impose a ban on initial coin offerings - where companies raise cash via a cryptocurrency or digital token.

Meanwhile, there was a flash crash in bitcoin prices on Tuesday, after Russia decided to ban the websites of exchanges offering cyptocurrencies.

The digital currency fell more than $600 in a matter of minutes, to below $4,200, although it quickly recovered. Breaking the $5,000 barrier this morning represents bitcoin's biggest daily rise in more than two weeks and a rally of nearly 75% in one month. (source: cityAM)

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