13 Aug '17, 10am

Bitcoin Surpasses $4,000 Due to Strong Japanese Demand: CNBC

The price of the digital currency Bitcoin has passed the $4,000 mark on Aug. 12, 2017, driven by strong Japanese demand, according to CNBC . The cryptocurrency has traded as high as $4,000.93, up by seven percent from its previous high of $3,941 and currently trades at $4,184 as of press time. Bitcoin’s performance in 2017 The price of the virtual currency has now increased by fourfold in 2017, with an increase of around 40 percent in August alone. The market value of the cryptocurrency has also risen to about $64 bln. Meanwhile, the trading of Bitcoin in Japanese yen has accounted for almost 46 percent of total trade volume worldwide. The trading of Bitcoin in US dollar accounted for around 25 percent, while the trading of Bitcoin in South Korean won and Chinese yuan accounted for approximately 12 percent each. Bitcoin’s solid performance in early August reflected that of...

Full article: https://cointelegraph.com/news/bitcoin-surpasses-4000-due...

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