Bitcoin hits all-time highs above $ 5000

Dhwani Mehta FXStreet

The largest cryptocurrency, Bitcoin, rallied hard to record another all-time high on Thursday above $ 5000 mark, as the sentiment was lifted by the latest Chinese speculation and Goldman plans.

The latest chatter doing the rounds that the Chinese regulators could reverse the ban of cryptocurrency exchanges imposed last month, while reports of Goldman Sachs exploring a bitcoin trading operation also drove the digital currency to record highs.

Meanwhile, markets appear to have ignored the hard stance adopted by Russia on the cryptocurrencies. Russia's central bank also noted it would block websites of exchanges that are offering cryptocurrencies.

According to data from industry website Coindesk, as cited by CNBC, the bitcoin price hit an all-time high of $5,167.90 in early trade on Thursday, surpassing the previous high of $5,013.91 hit on September 2.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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