Bitcoin rockets past $5200 price to reach all-time high

Richard Branson CEO of Virgin Galactic which accepts bitcoin as a form of payment

It's price also reached a historical value of $5,226; this is not the first time Bitcoin's price has soared.

Most merchants that accept crypt coins as a mode of payment prefer Bitcoins over other cryptocurrencies.

The world's largest cryptocurrency rose as much as 7.4% and was trading 5.8% higher at $5 105 as of 10:59, resuming gains after a one-day break.

The bitcoin price went meteoric on Thursday, surging past $5,400 to shatter the all-time high it set at the beginning of September.

Bitcoin is now trading at $5,186 compared with $966 at the start of the year.




The news come a month after China clamped down on bitcoin-related activity, ordering domestic bitcoin exchanges to cease operations.

"Bitcoin was created to operate outside of the influence of governments and central banks, and is doing exactly that", said Iqbal Gandham, Managing Director at retail trading app eToro, which has seen huge increases in cryptocurrency trading volumes.

As we previously reported, the growth can be linked to several factors ranging from political concerns to a recent split into two currencies - the first being Bitcoin classic and Bitcoin cash.

Russia's central bank also said it would block websites of exchanges that are offering cryptocurrencies. Bitcoin began the year near $1000 and has been on a tear ever since.

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