Price latest as Bitcoin leaps $600 in three days - hits record high
Investors seem to have regained confidence in bitcoin with the cryptocurrency climbed above $3,400 to trade at all-time highs on Monday.
The bitcoin price went up nearly five per cent to hit a high of $3,451.86 earlier today, according to CoinDesk.
Bitcoin and Bitcoin cash continue to climb
Sister currency Bitcoin Cash was up 52% on the session, but down 57% since its peak on August 2 when its price hit $727 (£557).
Bitcoin's overall market value
The total market value of bitcoin was nearly £42.19 billion ($55 billion), its highest on record, according to Coinmarketcap.com.
Bitcoin and Ethereum sees prices rise
Fellow digital currency Ethereum also saw a boost in the markets, with its figures also climbing.
While not as successful as Bitcoin, Standpoint Research founder and analyst Ronnie Moas previously predicted the online currency will smash £3,838 ($5,000) per token next year and £38,380 ($50,000) in 10 years.
He also was positive about Ethereum, saying that too could double in value to reach £307 ($400) later this year.
Bitcoin still not trusted, warns analyst
Bitgo engineer and CoinDesk contributor is worried that bitcoin is still not recognised as a legitimate currency.
“A huge number of people (who actually know about Bitcoin) are still sure it's a scam. Let that sink in for a bit,” he tweeted to his 19.6 thousand followers.
He later tweeted: “47 nation state currencies stand in the way of Bitcoin attaining the position of #1 M1 money supply. Egypt will be the next to fall.”
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