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Bitcoin reaches new high as it approaches $5300

13 October 2017

Clearly, for this to gain spending power, the price of a Bitcoin will need to be significantly higher than $5,000.

The rise is remarkable because there has been quite a bit of unfavorable news about Bitcoin in recent weeks. The Ethereum to Dollars exchange rate advanced 1.74% to $307.16, which is not a bad showing, but the Ethereum to Bitcoin rate dropped 6.76% in the same window.What does that tell you?It says that investors are moving money into Bitcoin and out of Ethereum. The Bitcoin community faces ongoing acrimony over how to scale the Bitcoin network.

Finally, many experts believe that the broader blockchain world is in the middle of an unsustainable bubble. This was a huge setback to the industry which led to around 30% fall in the bitcoin prices in a matter of a few days.

Bitcoin's continuing rise has so far silenced its critics, now presumably sat aghast at this behemoths rise. In addition, the Chinese regulators also imposed ban on Initial Coin Offerings (ICOs).

Bitcoin smashed through the $5,500 barrier for the first time on Friday, jumping as much as eight percent on the day as investors shrugged off the latest warnings about the risks of buying into the booming cryptocurrency market. But what is slightly less intuitive is that those supporting Bitcoin2X have to buy the currency as well. Legal and logistical barriers make it hard to sell a newly created cryptocurrency for conventional currencies like dollars or euros.

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Bitcoin surged to a fresh record on Thursday as the enthusiasm for cryptocurrencies showed little signs of abating.

The fact that Coinbase will allow instant off-platform withdraws for as much as $25,000 worth of bitcoin before payment is received is a pretty strong statement in regards to how confident they are in their fraud prevention systems. The August fork split the Bitcoin network in half, creating a new cryptocurrency called Bitcoin Cash that was a ideal copy of the original Bitcoin network-including its transaction history.

Bitcoin price soars to lifetime high. "For bitcoin no such fundamentals exist".

A final factor driving Bitcoin's growth: increasing interest from mainstream financial institutions.

There is a rumored bitcoin desk at Goldman Sachs which would be another game changer for the cryptocurrency market. The exchange explains that the availability of this option will be expanded in the coming months.

Bitcoin reaches new high as it approaches $5300