Bitcoin Price Hits New All Time Record High of $5200

Bitcoin Price Hits New All Time Record High of $5200

JP Morgan CEO Jamie Dimon himself recently announced last week that he will say nothing more about Bitcoin.

Bitcoin's value rose more than 8 percent and stretched above $5,200 on Thursday morning thanks to rising investor interest, according to cryptocurrency news site Coindesk.

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The regulators had made public a lot of negative news around the bitcoin.

The value of the cryptocurrency has recovered since September when a crackdown in China, prompted by fears of fraud connected to similar technologies, caused it to crash below $3,000. So to us, this bounce back in price is no surprise.

"The railroad bubble. Railroads really fundamentally changed the way we lived". This wait meant that users would often get frustrated because of bitcoin's inherent volatility - the price could fall (or rise) by 20 percent before you received your coins, but you were still locked into the price you paid five days earlier.

Bitcoin has reached an all-time high as it crosses $5,200 for the first time ever.

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. A single Satoshi is only worth $0.00005 now. It has chalked up a more than fivefold increase in price since the start of the year. The internet bubble changed the way we live. As grassroots movements go it has certainly captured a fair share of peoples imaginations too with its technological possibilities, figures such the IMF's Christine Lagarde and Fidelity Investments Abigail Johnson all have their reservations but recognize Bitcoin's underlying technological promise rooted its decentralized blockchain, giving it an essentially unhackable protocol.

With the maturity and the longevity of the market now assured, we expect this uptrend to continue for the short term and this is likely to keep the speculators busy in the short term.

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