#Bitcoin smashes $5,000 ceiling to hit another all-time high
Read more Russia to regulate bitcoin & other cryptocurrencies The cryptocurrency has increased in value by more than eight percent. Bitcoin started the year trading at $966 per token and has soared over 750 percent in the last 12 months. It is now worth four times more than an ounce of gold. Some analysts think the digital currency is likely to test a new ceiling ranging from $5,200 to $7,000 should it hold above the $5,000 barrier. Bitcoin’s rival ethereum rose 1.93 percent to $307. However, investing in bitcoin remains risky, as it plunged to below $3,000 just in September after Chinese authorities shut down exchanges in the country. The decline was fueled by a comment from JPMorgan & Chase CEO Jamie Dimon who called bitcoin a fraud good for drug dealers and murderers. This week, Russia has announced the regulation of digital currencies, as President Vladimir Putin said ...