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Cryptocurrencies

Bitcoin tops USD 3,400

Tuesday 8 August 2017 | 11:32 AM CET

Bitcoin has climbed above USD 3,400 to trade at all-time highs, as investors gained confidence in the future of the digital currency.

Bitcoin rose nearly 5%, to USD 3,451.86, up almost USD 600 from USD 2,900 levels. The cryptocurrency has more than tripled this year and has gained 18% in August 2017.

Most enthusiasts attributed the price gain to a relief rally after the relatively smooth split of the digital currency into bitcoin and bitcoin cash. Bitcoin fluctuated from above USD 700 to below USD 300.

At present, Bitcoin has a market capitalisation of about USD 56 billion.

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