Bitcoin rockets past $5200 price to reach all-time high

A Quick 'How To' Guide On The Basics Of Buying And Storing Bitcoin In SA

Bitcoin trades above $5000 for first time ever

But other factors have gotten traders excited: An Oct. 2 Wall Street Journalarticle reported that Goldman Sachs was considering opening a unit focused on bitcoin traders.

Bitcoin surged through the $5,000 level on Thursday for the first time since the launch of the unregulated virtual currency more than eight years ago. High Bitcoin transactions show the high levels of interests the public has on Bitcoin.

Bitcoin mania just crossed the $5,000 mark.

On Tuesday, Vladimir Putin called for regulations on cryptocurrency, labeling it a "serious risk" used for illegal activity such as money laundering, tax evasion, and funding terrorism.

But that was not enough to put investors off, with bitcoin rallying around 10 per cent since then. "I'm not going to talk about bitcoin any more", he said. Meanwhile, Citi's CFO said his bank is taking an "intense" look at cryptocurrencies and blockchain.

Bitcoin, a virtual currency created from computer code, was worth only a few U.S. cents was launched in 2009 by someone using the Japanese-sounding name Satoshi Nakamoto. But determining its value is hard.

Other cryptocurrencies - whose prices tend to be highly correlated to bitcoin - also rallied.

Up over $1,000 since last month, Bitcoin has risen over 25% within the last 30 days.

"Investors are seeing the lessons of history in the up-and-coming forks and hoping for an extra dividend", said Charles Hayter, co-founder of data analysis website Cryptocompare, adding that rumours on online forums that China could reopen exchanges could also be affecting the price.

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