Bitcoin broke a new record on 6 June as its valuation crossed the $2,900 (£2,250) barrier for the first time.
The
crypto-currency started the previous day hovering around the $2,600
mark, but took off shortly after midnight (BST), according to data
published by CoinDesk. The currency reached $2,911 per coin, before
dipping $100 then stabilising between $2,800 and $2,900.
It is unlikely to be long until bitcoin crosses the $3,000 mark,
which would represent a near six-fold growth in
value since this time
last year, when it sat at a little over $500 per coin. Much of the
growth came in April and May, prompting fears of an imminent crash; but
short of a brief $250 dip at the end of May, this is yet to materialize.
As
is often the case with crypto-currencies, a rise in bitcoin has been
echoed across the market. Ethereum had grown by over 5% in the 24 hours
before the publication of this article, while litecoin saw gains of over
4%, to $258 and $30.73 respectively, according to data from CoinMarketCap.Unusually for bitcoin price spikes, there is no obvious reason for
today's surge in value, other than continued optimism among Chinese
users. The country's three largest bitcoin exchanges announced last week
that their customers could once again withdraw their coins as
real-world currency, having halted withdrawals in February.
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