The price of Bitcoin is on the rise again, this time reaching an all time high topping $1300 USD.
Bitcoin’s most recent advance comes as Bitfinex, one of the world’s largest digital currency exchanges, has struggled to establish new banking relationships after halting U.S. dollar withdrawals two weeks ago. The freeze has caused the price of bitcoin traded on Bitfinex to soar, possibly distorting prices across the market, as investors are forced to buy coins at a premium in order to move their assets off the exchange.
According to Bitcoin price tracking website CoinSalad.com, the price topped $1300 this week which is the highest the digital currency has ever been. CoinSalad also says part of the price increase is due to the renewed interest in the Winklevoss ETF by the SEC. The digital currency has climbed more than 30% this year, even as Chinese regulators instigated a precipitous drop in local trading volume by forcing local exchanges to upgrade their anti-money laundering controls.
Overall it appears that traders and investors remain optimistic about the long-term price of Bitcoin, as well as the health of the market, noting the abundance of available exchanges currently in place to support trading activity.