Bitcoin price has reached the highest level ever! According to coinmarketcap, the current price of the virtual gold equals $5137!
News from China
Around 1.5 months ago, the value of Bitcoin was $4942, however, a lot has happened since then. News from China regarding ICO and cryptocurrency exchange bans have led to a market crash. In slightly over one week, the price of the virtual gold has lost 30% of its value! The price dropped from $4632 to less than $3000.
Top of the road
It was a turning point. When on 12th of September the price fell to $2979 level, Bitcoin price started to rebound. It took less than a month to make up its losses and reach a new all time high.
Probably the main price driver was the announced hard fork and creation of a new currency, Bitcoin Gold. Many people buy virtual gold hoping for extra profit from the newest tokens.