Bitcoin surpassed $6,000 on Friday, reaching its latest milestone and setting yet another all-time high. The virtual currency peaked at $6,003.81 during the session, according to figures provided by CoinDesk’s Bitcoin Price Index (BPI).
The record high helped push the total value of the world’s largest cryptocurrency by market capitalization to more than $99 billion, additional BPI figures show.
At the time of report, Bitcoin prices had fallen back somewhat, retreating to $5,943.
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.
bitcoin just blasted through $6,000 like it was yesterday’s news, what an animal. pic.twitter.com/JOHT5gz1zA
— Dank Meme Spec Ops (@AnalyzerX7) October 20, 2017
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Over the last few weeks, there have been countless forecasts of Bitcoin’s end following China’s crackdown on ICOs and Bitcoin exchanges which shut down the local industry. Now, the cryptocurrency economy has an even stronger case, as Bitcoin’s latest price climbs have awarded loyalists with another fortune after rising more than 80 percent in less than a month.
Making sense of the crypto frenzy
The genie is out of the bottle but it is still hard to predict when bubbles will pop. The London Summit will address the surge of cryptocurrencies, led by Bitcoin, and the opportunities and pitfalls that this new reality presents to the trading industry.
The 2017 London Summit will feature a diverse panel of experts who will discuss the crypto frenzy, blockchain technology, and the future trajectory of the industry.
— Finance Magnates (@financemagnates) September 26, 2017
Our panel will provide much needed clarity about the various applications of cryptocurrency for financial services, mixing crypto-vision with down-to-earth solutions for products, security, and risk management.￼