Economy

Bitcoin Price Hits Lifetime High - Smashes Above $5100 Barrier

Bitcoin Price Hits Lifetime High - Smashes Above $5100 Barrier”

The rise is remarkable because there has been quite a bit of unfavorable news about Bitcoin in recent weeks.

Bitcoin appeared to be stumbling following indications that China was fighting against it, but a change of heart has seen its price soar again.

The bitcoin prices have finally broken through their all time highs and through the $5000 region.

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After the Chinese ban, the Japanese yen consolidated the global trade volume, with 57 percent of bitcoin's fiat exchange volume. Legal and logistical barriers make it hard to sell a newly created cryptocurrency for conventional currencies like dollars or euros.

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The fact that Coinbase will allow instant off-platform withdraws for as much as $25,000 worth of bitcoin before payment is received is a pretty strong statement in regards to how confident they are in their fraud prevention systems.

Making sure users have enough money in their account to actually afford their purchase is important because Coinbase won't be placing any holds on instantly purchased cryptocurrency, meaning a user will be able to buy bitcoin and transfer it off exchange before the ACH withdraw is actually completed.

This shows a return to the cryptocurrency's earlier surge that saw many people within the financial sector - and even the average person - suddenly take notice of a once fringe concept.

So the market may be shrugging off the possibility of another fork in November because it doesn't expect another fork to hurt Bitcoin's value.

The combined market cap for all cryptocurrencies is once again climbing towards the September 1 high of $172.5 billion, peaking this morning at $171.94 billion. The exchange explains that the availability of this option will be expanded in the coming months.



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