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| Bitcoin smashes all-time high of $4,000 on global exchanges | |
| (3 days later) | |
| Bitcoin has hit a new record high, reaching an average of $4,000 on global exchanges on Sunday, according to CoinDesk. The cryptocurrency has stayed above the mark in early Monday trading. | |
| The world's most popular cryptocurrency has appreciated nearly 50 percent over the last month of trading, with data from the CoinDesk BPI indicating that the price of bitcoin was $2,423 on June 12. | The world's most popular cryptocurrency has appreciated nearly 50 percent over the last month of trading, with data from the CoinDesk BPI indicating that the price of bitcoin was $2,423 on June 12. |
| The most dramatic growth has taken place over the past week, after bitcoin split into two to create a spinoff cryptocurrency called 'bitcoin cash.' | The most dramatic growth has taken place over the past week, after bitcoin split into two to create a spinoff cryptocurrency called 'bitcoin cash.' |
| The split, which took place on August 1, came after an ongoing battle among the cryptocurrency community over the rules that should govern bitcoin's network. | The split, which took place on August 1, came after an ongoing battle among the cryptocurrency community over the rules that should govern bitcoin's network. |
| Bitcoin is up nearly 25 percent on the week since the split, while bitcoin cash has risen 17 percent. | Bitcoin is up nearly 25 percent on the week since the split, while bitcoin cash has risen 17 percent. |
| READ MORE: ‘He used his real name online’: Bitcoin security expert on $4bn laundering scheme suspect | READ MORE: ‘He used his real name online’: Bitcoin security expert on $4bn laundering scheme suspect |
| Some analysts have predicted that bitcoin will continue to rise in value, with Ronnie Moas of Standpoint Research, a company that specializes in investment and stock recommendations, predicting it will reach $5,000 by 2018. | Some analysts have predicted that bitcoin will continue to rise in value, with Ronnie Moas of Standpoint Research, a company that specializes in investment and stock recommendations, predicting it will reach $5,000 by 2018. |
| “It would not shock me to see cryptocurrencies go to 4 percent” of global investment assets, Moas said earlier this week, as quoted by Quartz. | “It would not shock me to see cryptocurrencies go to 4 percent” of global investment assets, Moas said earlier this week, as quoted by Quartz. |
| “Before anyone laughs at me for suggesting that something like that could happen—just look at what happened [in bitcoin] in the last five years. People who put in $10,000 made $1 million already. It happened already and I think it will happen one more time. We are in the 15th minute of a 90-minute soccer game—and it could go to overtime." | “Before anyone laughs at me for suggesting that something like that could happen—just look at what happened [in bitcoin] in the last five years. People who put in $10,000 made $1 million already. It happened already and I think it will happen one more time. We are in the 15th minute of a 90-minute soccer game—and it could go to overtime." |