On Thursday, Bitcoin price went up to a new record value, trading above $ 5200 for the first time in its nine-year history.
At the moment of writing, on the US Bitfinex exchange, Bitcoin went up by $ 434.5 or 9% to $ 5,258.3, exceeding the previous record of $ 5013.91, which was fixed on September 2. At one point, Bitcoin was over 11% up, close to $5400.
The Bitcoin quotation rose sharply after reports that trades in China could continue without any prohibitions on the part of the authorities. Chinese regulators may only introduce new measures that would refer to the issuance of licenses and will implement of new rules for combating money laundering.
The price recovery occurred less than a month after China banned some actions related to Bitcoin trade and suspended the work of local bitcoin-exchanges. It announced earlier that it would totally ban initial coin offerings (ICO), a form of raising funds via token sales in exchanges for cryptocurrencies.
Markets also did not pay attention to the negative news from Russia, where President Vladimir Putin said cryptocurrency buyers can be involved in illegal actions. Yesterday, the Russian president called for regulation of the emerging market of crypto-coins.
The Central Bank of Russia announced its intention to block the sites of crypto exchanges.
Bitcoin cash rose 2.27% to $320.37, while Ethereum, the second cryptocurrency by market, went up by 0.77% to $304.20.
Investors closely monitor Ethereum before the Byzantium hard fork, which will be the first stage of the long-awaited update of Metropolis stage, scheduled for October 16.
The market capitalization of Bitcoin Cash and Ether is well below the capitalization of Bitcoins - at $5 billion and $29 billion, respectively.