Bitcoin Price Climbs above US$4000, Hits All-Time High

Judith Bessette
Agosto 14, 2017

It's now trading for over $4,100 a coin, having broken the $4,000 mark in the early hours of August 13.

The bulk of the additional demand came from Japan, which accounted for almost 46 percent of global trade volume, up from about a third a day ago, while South Korea and China accounted for 12 percent each.

I wouldn't be surprised if it hits a few more before 2017 is up. That wasn't close to the end of the surge with the price hitting $1,426.54 in in May before breaking through the $3,000 mark only one week ago.

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The uptick, driven by safe-haven seekers and a general decline in the equities market, saw bitcoin climb above the $4,000-level for the first time since its creation in January 2009. "There's no fundamentals behind any of this - it's all based on public perception, so you can start to see some really unusual phenomena".

Although bitcoin may well be in the middle of a massive bubble, the argument that it's something to which people ascribe a value and therefore it is risky also describes traditional fiat currency as well - as the people of Venezuela realize. This gives it a market value of approximately US$64 billion.

Geopolitical tensions in light of the ongoing war of words between US President Donald Trump and North Korea's Kim Jong Un, and the subsequent ratcheting up nuclear tensions between both nations, have pushed cryptocurrency Bitcoin to new record highs.

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