Bitcoin was worth more than $ 6,100

Bitcoin was worth more than $ 6,100

The bitcoin reached a new record level of $ 6147.07 on Saturday.

This is reflected in the Coindesk Bitcoin Price Index, an unweighted average of the prices on various Bitcoin stock exchanges.


At the beginning of Friday afternoon, a bitcoin was worth less than 5,700. In a few hours, the price of the cryptomint rose by hundreds of dollars. And on Saturday, that increase continued.

Why?
That's always guessing. But the main reason is likely that the currency is about to split again. That's a lot of free money for many investors: the bitcoins they already have are automatically converted to the new Bitcoin Gold.

The bitcoin community was likely to smell at the $ 5,000 limit in September, but the price then dropped strongly following indications that China would ban the trade in bitcoin.

There was great uncertainty about the legal status of initial coin offerings (ICOs), a way of crowdfunding based on cryptovaluta. The bitcoin rate reached a $ 2,900 base on September 15 and has since risen again.

Government measures have little influence
For fans of the digital currency, the resurrection does not come as a surprise. Bitcoin fighters have long been convinced that government action has little influence on the underlying technology or price.

"Bitcoin is designed to operate without the influence of governments and central banks, and is fulfilling this promise," said Iqbal V. Gandham, managing director at eToro UK. "For us, this new price increase is therefore no surprise."

Also read our interview with Didi Taihuttu. He sold his house for bitcoin and now lives with his family at a campsite near Venlo.

Bitcoin dealer Josh Olszwicz told Business Insider in September that the markets would ignore the news from China because it has no impact on the underlying blockchain technology.

"If it does not affect the protocol, then it's not a real problem," said Olszwicz last month. "The developments surrounding Bitcoin Cash were much more disturbing in my view, but at the same time the core of the bitcoin protocol remained unchanged."

Business banks collapse on bitcoin
The value of bitcoin has only increased by more than $ 1,000 over the past week. The rally runs parallel to the renewed interest of investment banks in the cryptomax.

The Wall Street Journal reported last week that Goldman Sachs is considering launching a bitcoin trading platform, and CEO James Gorman of Morgan Stanley recently said that the crypt currency is "surely more than a gril".

According to Neil Wilson, senior analyst at ETX Capital, "the bulls on war road have returned to the market".

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