Published On: Thu, Oct 12th, 2017

Bitcoin Price Rockets Past $5000 to New All-Time High

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Bitcoin price soared past the $5,000 mark today, reaching a current all time high of $5,188 on the GDAX exchange. 
Bitcoin’s price rocketed through the psychological $5,000 barrier, reaching an all time high, at the time of writing of $5,188.

Relative strength technical indicators do show that the currency has been overbought now for three days, however, the price shows no sign of stopping. With recent speculation by investors of $10,000 bitcoin in six to 10 months, the price surge proves that there is still plenty of growth potential for the cryptocurrency.
With current anxieties high in the cryptocurrency community regarding further hardforks (segwit2x) and chain splits in the coming months, the price would appear to demonstrates a high degree of investor confidence.
News both Good and Bad
The all time high comes just a month after Bitcoin prices fell by almost $2,000 dollars following news and much rumors about possible clampdowns on the currency in China. This also coincided with comments from JPMorgan’s CEO Jamie Dimon calling Bitcoin a fraud.

It has not all been bad news, there are many who continue to speak of the benefits of Bitcoin and blockchain technology, including Abigail Johnson of Fidelity Investments and Christine …

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