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Saturday, October 14, 2017

Crypto News: Bitcoin is going bananas

Bitcoin is going bananas

Bitcoin on Friday morning soared by more than $500, crossing $5,800 for the first time, putting in a record high of $5,866 a coin, according to Bloomberg data. The cryptocurrency has since pared its gains, but it still trades up 3.92% at $5,626 a coin.

Friday's advance comes after Coinbase, a digital currency exchange, announced that customers could instantly purchase bitcoin and other cryptocurrencies using a US bank account. Those customers previously had to wait several days before receiving their digital currency.

It has been a monster week for bitcoin, which has soared nearly 30% since last Friday's close. It blew through the highly anticipated $5,000 level on Thursday, just days after The Wall Street Journal reported that Goldman Sachs was looking into setting up a bitcoin trading operation, and Morgan Stanley CEO James Gorman said the cryptocurrency was "certainly more than just a fad."

But things didn't look too promising in September. News of a crackdown on trading in China and regulatory uncertainty around initial coin offerings, a cryptocurrency-based fundraising method, pushed the cryptocurrency to a low of $2,900 a coin on September 15.


Full story at http://read.bi/2gk9qsh


Source: Business Insider Nordic


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