Bitcoin hits a record high above $4,900


Screen Shot 2017 10 10 at 2.31.19 PM
Bitcoin
hit an all-time high, according to data from
Bloomberg.

MI

Bitcoin
broke through a new ceiling on Tuesday amid regulatory
uncertainty and mounting criticism. 

The price of the red-hot cryptocurrency soared passed $4,900
Tuesday afternoon to $4,926, an all-time high for the
cryptocurrency, according to data from Bloomberg. 


Other estimates put bitcoin’s all-time high over $5,000, such as
CoinDesk’s
index

Bitcoin hit a record high of $4,921, according to data from
Bloomberg, at the beginning of September, but quickly saw
its price decline amid news of a
crackdown in China
 and regulatory uncertainty around
initial coin offerings, a cryptocurrency-based fundraising
method. After bottoming out near $2,900 per coin on September 15,
it has since rallied.

On Tuesday, Russian president Vladimir Putin added to the
uncertainty, hinting at
a possible cryptocurrency crackdown in Russia
.

Putin’s comments follow mounting criticism from some of Wall
Street’s most powerful players. 

On September 12 JPMorgan
CEO Jamie Dimon called bitcoin “a
fraud”
 and said it was “worse than tulips
bulbs” in the 1600s.
 

Then, in a recent interview with Bloomberg News, Larry Fink,
the head of BlackRock, the world’s largest investor with $5.7
trillion under management, said he thinks
the explosive growth of bitcoin points to nefarious
behavior

“It just identifies how much money laundering there is being
done in the world,” Fink said. “How much people are trying to
move currencies from one place to another.”

Kenneth Rogoff, the former chief economist of the
International Monetary Fund,
weighed in on bitcoin Monday
, saying that “in the
long run, the technology will thrive, but that the price of
bitcoin will collapse.

Must READ:   The Bitcoin Gold Project Responds to Negative Criticism

Get the latest Bitcoin price here.

One Reply to “Bitcoin hits a record high above $4,900”

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