The cryptocurrency has broken all-time records since the beginning of December, its price surging past its 2017 results, amid the weakening of the US dollar.

Bitcoin reached a new high, trading at $30,000 on Saturday, according to CoinMarketCap, a portal which monitors over 20 stock exchanges. CoinMarketCap stated that at 12:21 GMT Bitcoin grew 2.50 percent to $30,094 US, while on Binance, the largest crypto exchange by transaction volume, it gained 2.85 percent, reaching $30,145.

Later in the day, the price surpassed $31,000, but then fell back to $30,900.

The cryptocurrency reached $19,650 in December 2017 and then lost most of its value, falling below $4,000 in November 2018. However, it started regaining ground over the past years.

Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020.

Launched in 2009, Bitcoin was the first cryptocurrency to use a decentralised blockchain-based network. At the moment, it accounts for approximately 71 percent of the world’s rising cryptocurrency market. Its value is based on a “mining” process, so BitCoin is not subject to any central bank policies or regulations.

Sourse: sputniknews.com

Bitcoin Hits All-Time High of $31,000 Before Dipping to Under $30,900

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