The price of Bitcoin (EXANTE: Bitcoin) rose sharply spiking up 7%, according to CoinDesk market data, Cryptocoinsnews reports
Although Bitcoin is still under the $4,000, which it broke through after JPMorgan (NYSE: JPM) CEO Jamie Dimon said on September 12 that the cryptocurrency was a “fraud”.
Earlier this month Ray Dalio, the founder of the world's largest hedge fund Bridgewater Associates, said in an interview he believed there's a bubble in the Bitcoin market.
China’s central bank the People’s Bank of China proclaimed initial coin offerings (ICOs) illegal and demanded all related fundraising activity to be halted immediately.
Chinese Bitcoin exchanges were ordered to stop all trading from September 30 which also affected the Bitcoin’s price.
Despite all that the price of the cryptocurrency is up nearly 300% year to date.