Yahoo Finance Bitcoin near Record Highs; Bitcoin Cash Pushes Higher
Investing.com - The price of the digital currency bitcoin was trading near record highs on Monday while bitcoin offshoot Bitcoin Cash pushed higher.
On the U.S.-based Bitfinex exchange, Bitcoin was trading at $6,153.90 by 10:02 AM ET (14:02 PM GMT).
Bitcoin hit a peak of $6,330.00 late Sunday, the highest level in its nine year history and just over a week after first breaking through the $6,000 level.
Bitcoin started the year near $1,000 and at current prices has a total market capitalization of around $102 billion.
The rally has been driven by increasing mainstream adoption and awareness of bitcoin and cryptocurrencies and as investors appeared to shrug off recent negative news in the bitcoin space.
Bitcoin recently underwent another fork, which split the underlying software of the currency to create a new cryptocurrency called bitcoin gold.
It was the second split to bitcoin this year, after one in August which led to the creation of bitcoin cash.
Meanwhile, China banned cryptocurrency exchanges in September, but there is some speculation the Beijing could reverse the ban.
Bitcoin Cash was last at $468.39, up 3.04% for the day.
Bitcoin cash has a total market cap of around $7.7 billion at current prices, making it the fourth most valuable cryptocurrency.
Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was up 0.91% to $307.15.
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Bitcoin near Record Highs; Bitcoin Cash Pushes Higher
