[2017-10-21] Bitcoin smashes through $6,100 to hit a new record high

[Terraformer]

Bitcoin set a new record high on Saturday breaking through the $6,100 barrier.

The cryptocurrency hit an all-time high of $6,147.07 just a day after pushing through the $6,000 mark, according to data from industry website CoinDesk.

Much of the rise can be attributed to another upcoming split in bitcoin known as a "fork". This will lead to the creation of a new cryptocurrency called bitcoin gold. Holders of bitcoin will get some bitcoin gold when it is issued, essentially giving them free money.

But Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital, told CNBC on Friday that bitcoin investors were betting on bitcoin holding its status despite the split. Bitcoin already underwent a fork in August when a new cryptocurrency called bitcoin cash was created. Despite this, bitcoin has continued to perform strongly.

At the same time, there are rumors that China could reverse its ban on cryptocurrency exchanges which is also giving bitcoin a boost.

Bullishness around bitcoin continues despite big business figures like JPMorgan Chase CEO Jamie Dimon calling it a "fraud" and saying that people who invest in it are "stupid".

In an unscientific survey carried out by CNBC this week, nearly half of the more than 23,000 people who voted said bitcoin is heading to over $10,000. Former hedge fund manager Michael Novogratz told CNBC in a recent interview that he sees bitcoin heading to $10,000 in the next six to 10 months.

Bitcoin has also been helped by favorable regulation in Japan which recently allowed companies to accept the digital currency as payment. Around 57 percent of the trade in bitcoin was executed in Japanese yen on Saturday, according to industry website CryptoCompare.

But the virtual currency has also suffered regulatory setbacks including China banning cryptocurrency exchanges.

Still, the price of bitcoin has risen over 500 percent year-to-date.

https://www.cnbc.com/2017/10/21/bitcoin-price-6100-new-record-high.html

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[InvoKing]

Bitcoin set a new record high on Saturday breaking through the $6,100 barrier.

2017 is a special year with many ATH, i estimate that the Bitcoin price could pass $8000 at the end of the year.

Bullishness around bitcoin continues despite big business figures like JPMorgan Chase CEO Jamie Dimon calling it a "fraud" and saying that people who invest in it are "stupid".

The clever boys bought Bitcoin under $100 and sold it at +$5000-6000 [dot]

[Slow death]

Bitcoin set a new record high on Saturday breaking through the $6,100 barrier.

The cryptocurrency hit an all-time high of $6,147.07 just a day after pushing through the $6,000 mark, according to data from industry website CoinDesk.

I wonder what it will be like after these two events "fork".

At the same time, there are rumors that China could reverse its ban on cryptocurrency exchanges which is also giving bitcoin a boost.

I would be much calmer if we did not go back to being dependent on these Chinese, they have a very dangerous regime and they are not reliable

[BitHodler]

China reversing its "ban" shouldn't have an impact on the market, just like their initial "ban" action shouldn't have any impact ~ I actually preferred China to stay away, but it was clear from the beginning that they would return again.

No China means no more nonsense coming from them causing the market to plummet again. It's time for people to move over China and accept that they are the main source of each and every mega dump that we have gone through.

Overall, it's good to see the $6000 mark, but I doubt that we'll be maintaining these levels for long. If the SegWit2x hard fork wasn't a concern, I am quite sure that the market would rush further, but we need some patience for now.

[Siren]

I doubt that China will go back to bitcoin and crypto's. As much as we want them to enter again, specially our friendly Chinese bitcoin community here, they have damage the market already that we rather moved forward without them, speculations about them coming back because we are hitting ATH. They have lost their opportunity already. And the government will look stupid it ever they reverse their decision. We are doing better now without them, and I think it will be better for us that why.

As far as touching $6100 yeah, I was monitoring the price actually it hit above $6100 then go back to ~$6000, and it looks like its stabilizes at $6000 now. Let's see how it goes as we get closer to the fork, probably $6500?

[Nameless27]

China after what they’ve done resulted to 2800$ down last September while at this moment at 6000$ per bitcoin without they’re presence. They’re not relevant and surely not needed to this bitcoin community again. It’s better for us to rally against they’re comeback. Not supporting the is the best way to do it.

I’m glad to be in this forum to have more knowledge and updates about bitcoin on a daily basis, I always make time to read here in the Press section because it is for me most informative place for current events.

[Kanapka]

What will be the next high?