Bitcoin has broken $4,000 – A new all time high

Bitcoin has broken $4,000 – A new all time high

The price of bitcoin broke through $4,000 for the first time on Sunday, reaching its highest ever level, and is still above the symbolic level in early trade on Monday.

Bitcoin crossed the $4,000 mark at around 1.00 a.m. UTC on Sunday. At press time, a bitcoin was worth $4,228.

Iqbal V. Gandham, UK’s managing director of trading platform eToro, said in a statement: “Bitcoin hitting $4,000 is another milestone in a long list of big moments the cryptocurrency has witnessed in recent weeks. Following a recent fall to $1,800, it has come back strongly and relatively steadily. This is encouraging.

In addition, the ecosystem is also getting stronger. You now have more places to spend Bitcoin, more regulators thinking about the right infrastructure, and more investors learning about the asset. Speculation is rightly moving away from the price and is focusing on use cases.”

Bitcoin has so far been on an incredible rally this year, up over 300% since the start of 2017. The digital currency only passed $3,500 for the first time earlier this month.