FX.co ★ Bitcoin hits fresh all-time high

As a rule, the mass media publish two types of news about the bitcoin. Some say that the cryptocurrency is about to collapse; another predict that the bitcoin will hit new highs. Today the news falls into the second category.

Let's start with the achievement that pleased long-term investors. The year has not yet come to an end, but the first cryptocurrency has already brought investors a profit of 700%. The bitcoin hit a fresh all-time high of $8,255.2. The new achievement became the reason for another record. By the way, the word "record" in this article will be used a lot. Stable growth of the cryptocurrency also increases capitalization of the entire virtual money market, which reached an all-time high of $0.239 trillion. Moreover, you do not have to be an expert to understand that this winning streak became possible thanks to another record, of course. This time, the market faced the highest demand for the cryptocurrency. Nowadays, everyone - from students to large institutional investors – are interested in the bitcoin. CME Group, the world's largest exchange operator by market value, announced the launch of bitcoin futures, and Internet exchangers provide anyone with the opportunity to buy and sell the bitcoin.

According to Spencer Bogart, the Head of Research at Blockchain Capital, the growth is connected to the revival of interest in the Segwit2x hard fork. The developers of the bitcoin system planned to update the protocol (SegWit2x), which was intended to change a number of rules. However, the launch of SegWit2x was called off. So, the record breaker still has more than enough reasons to skyrocket.