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Bitcoin Surges to New Record High of $8200

Bitcoin Surges to New Record High of $8200CC0Business17:56 20.11.2017(updated 21:09 20.11.2017) Get short URL123510

The value of the Bitcoin cryptocurrency has rocketed by 37% in just eight days; on Monday it reached a record high of $8,241.

Bitcoin reached a record high of $8,241 on Monday, according to data from industry website Coindesk.

The cryptocurrency has risen in value by 2.6% since the open of trade on Monday, capping a remarkable eight days of growth. 

READ MORE: Coal Exports Banned? No Problem: North Korea Goes Bitcoin Mining

Since November 12, when Bitcoin was valued at $5,857, the volatile currency has increased in value by 37%.

Bitcoin has enjoyed a meteoric albeit volatile rise this year: at the beginning of 2017, a unit of the cryptocurrency was valued at $998.

Other cryptocurrencies have surged in value, too. According to industry website Coinmarketcap, the market capitalization of all cryptocurrencies also hit an all-time high on Monday, of $242.9 billion.

​Some market observers have expressed concern that the meteoric rise in Bitcoin’s value is a symptom of a bubble in the cryptocurrency market. Others are speculating on how far the cryptocurrency surge will go.

Sourse: sputniknews.com

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