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Investment

Bitcoin surges 5% to record high within 74 cents of $6,000

Written by finanster
on October 20, 2017
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Bitcoin surged 5 percent to a record high on Friday as it approached $6,000.

The cryptocurrency traded at $5,986.37 as of 11:27 a.m. in New York and was 74 cents shy of reaching $6,000 according to CoinDesk.

Bitcoin notched its record just a day after briefly plunging 8.7 percent amid fears of greater scrutiny from U.S. regulators.

Most of the cryptocurrency’s trading volume came from Japan, with 59 percent of the trades executed in Japanese yen. Trades in U.S. dollars accounted for 25.5 percent of all trades, according to CryptoCompare.

Nevertheless, the cryptocurrency has had a stellar performance over the past month, rising 50.4 percent. This despite being criticized by JPMorgan Chase and BlackRock CEOs Jamie Dimon and Larry Fink.

Dimon said last week at a conference that people who own the cryptocurrency are “stupid.” Fink, who spoke at the same conference, called bitcoin an “index of money laundering.”

Source: Investment Cnbc
Bitcoin surges 5% to record high within 74 cents of ,000

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