After going down with almost 40% to $3,000 in August, the “people’s currency” is back with a vengeance. The new highs in Bitcoin price represent around 70% increase from the last dip.
Today, however, the bitcoin price continued to swell after piercing the psychologically-important $5,000 barrier and setting a new all-time high. The bitcoin price has continued to climb on every major cryptocurrency exchange, and it has now risen to a record $5,419.
The recent price surge of Bitcoin can be attributed to three major factors: increase in demand from institutional investors, the rapid growth rate of the South Korean and Japanese Bitcoin markets, and the upcoming SegWit2x hard fork in November.
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