There’s no stopping Bitcoin as price hits new record high

0

Bitcoin broke new records on Tuesday, reaching a high of $4,926, amid increased uncertainty and mounting criticism of the cryptocurrency according to Bloomberg.

Some other commentators such as CoinDesk’s index, claimed that the value actually rose above $5,000.

The currency went above $4,900 for the first time in September but fell away again after a crackdown by China.

There has been increased uncertainty regarding initial coin offerings, a cryptocurrency-based funding method.

On September 15, the currency had fallen to nearly $2,900 but has once again rallied to Tuesday’s high.

China are not the only country to air their concerns, Russia’s Vladimir Putin has hinted at a crackdown on cryptocurrencies in Russia.

This follows on from criticism by some of the big guns on Wall Street who have also criticised the currency.

JP Morgan CEO Jamie Dimon said that Bitcoin was “a fraud” on 12 September and went on to say that it was “worse than tulips bulbs” in the 1600s. 

Kenneth Rogoff, a former chief economist of the International Monetary Fund (IMF), also decide to have his say on Bitcoin, saying that “in the long run, the technology will thrive, but that the price of bitcoin will collapse.”

Share.

Comments are closed.