Bitcoin breaks $2,900 barrier to hit record high

Bitcoin breaks $2,900 barrier to hit record high

PanARMENIAN.Net - Bitcoin’s rocketing rise in value shows no sign of abating after breaking the $2,900 mark Tuesday, June 6, according to RT.

The digital payment reached a value of $2,967.48 at around 1.20pm UTC Tuesday, June 6 according to the Coindesk Bitcoin Price Index. The pricing is a record high for the cryptocurrency which has been hit with periods of volatility.

The latest Bitcoin Price Index is 2,903.42 USD

— CoinDesk (@coindesk) June 6, 2017 Bitcoin experienced an unprecedented surge in worth recently after trading for the first time above $1,500 back in May.

The spike has been linked to the legalisation of digital currencies in Asia in recent weeks. However, some financial observers suggest the hike is down to increasing confidence in the alternative currency.

Bitcoin +200% in 2017. this ride isn't just Japan anymore: USD back as majority currency. it's a hedge/safe haven.

— Daniel Roberts (@readDanwrite) June 6, 2017 #bitcoin hike:@CNBC says it's Japan: says China, Japan:

it isn't 1 thing.

— Daniel Roberts (@readDanwrite) June 6, 2017

“The biggest driver [of bitcoin] right now is you’re starting to see institutional investors take a keen interest in the entire sector,” financial commentator, Brian Kelly, said last month. “I don’t think this is hot money. This is real money that’s going to sit around and build the new internet.”

Bitcoin rival, ethereum, an open source platform providing ‘ether’ cryptocurrency, also received a boost this month.

The currency, which went live in 2015, reached an all-time high in value of $250.41 on Sunday.

 Top stories
Ara Khachatryan, the current CEO of Ucom CJSC, and the Board have mutually agreed upon transition of his executive functions.
Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls.
Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020."
The care reaction is slated to launch globally on Facebook’s app and website sometime next week.
Partner news