29 Aug '17, 6pm

Bitcoin jumps nearly 70% for August to record high, offshoot 'bitcoin cash' falls to more than one-week low

Bitcoin jumps nearly 70% for August to record high, offshoot 'bitcoin cash' falls to more than one-week low

Some analysts also attributed bitcoin's gains to investors looking for a safety trade after North Korea fired a ballistic missile over Japan. "With both bitcoin and ether, we're seeing a flight to safety due to the issues in North Korea, similar to when investors previously flocked to gold out of equities during previous wars," said Andrew Keys, head of global business development at blockchain software developer ConsenSys. Demand for bitcoin and ethereum from Japanese and South Korean investors remained strong, according to CryptoCompare. The site showed trade in the Japanese yen and South Korean won accounted for nearly half of all bitcoin trade volume, while won-denominated ethereum trade accounted for about 22 percent. Asian stocks closed mostly lower, European markets fell more than 1 percent and U.S. stocks opened lower after North Korea late Monday Eastern Time fire...

Full article: https://www.cnbc.com/2017/08/29/bitcoin-jumps-to-record-h...

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