28 Dec '16, 4pm

Bitcoin price at record high against pound and euro

T he rise in recent months has been attributed to the steady devaluation of the Chinese yuan. Most bitcoin trading takes place in China and so financial conditions in the country have a huge effect on the currency's price. November's election of Donald Trump also sent the value of Bitcoin rising , while moves to make certain cash denominations obsolete in India and Venezuela may also have had an effect. Even if the price of a bitcoin is not at a record level in dollar terms, the larger number on the market means the total value of all bitcoins in circulation has reached a new record of over $15bn .

Full article: http://www.telegraph.co.uk/technology/2016/12/28/bitcoin-...

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