Bitcoin Hits Record High, Surges above $6000
Main page News, Cryptocurrency, Bitcoin
Hot topic
Oct. 20, 2017

Bitcoin (Bitcoin) prices surpassed $6,000 today, hitting a fresh, new record, CNBC reported.

The cryptocurrency peaked at $6,003.81 in late morning New York trading, according to Bitcoin Price Index (BPI). Bitcoin later pared some gains to trade around $5,905 by early afternoon.

Trading volume in Bitcoin also far surpassed that of other digital currencies, indicating high investor demand.

"In the last 24 hours and really the last few hours there has been a massive inflow of capital into Bitcoin, significantly outweighing the amount of new money flowing into other cryptocurrencies," said Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital.

Bitcoin thus attained its latest high after reaching several new records this month, breaking through price levels such as $5,300 and $5,800.

By hitting this latest milestone, Bitcoin has surged more than 500% year-to-date, rising from less than $1,000 at the start of the year to break through a key price level almost each month.

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