The digital currency is up 2.8% to $958.52 at 9.40 a.m. GMT (4.40
a.m. ET). Bitcoin has shot up over $150 over the last week, with
little obvious spur for the price rise. Bitcoin is now at its
highest level since November 2013 when it reached
"Bitcoin's future success is tied to whether investors will embrace the asset on its own merits, rather than simply in response to geopolitics."
Maria Terekhova, BI Intelligence's fintech research analyst, says in an email on Wednesday morning: "Bitcoin’s continued growth will depend on the factors that have so far contributed to its success. On one hand, as the cryptocurrency gains more exposure and enters the mainstream, more investors may to flock to the asset.
"The media continues to speculate what the reasons for the rise might be but enthusiasts already know. They're simply speculating about how high it will go." Greenspan previously suggested that bitcoin's recent surge could be down to fears in China of an impending devaluation of the renminbi.
Mati Greenspan, a senior market analyst at trading platform eToro, says in an email on Wednesday morning: "We've been seeing an incredible surge since the price crossed $775 and it doesn't seem to be slowing down.
"On the other hand, however, much of bitcoin’s recent boom has resulted from uncertainty around events such as the US election and Brexit. As Trump enters office and Brexit negotiations begin, the resulting settling-down might impact bitcoin's momentum.
Here's how bitcoin has performed across 2016 — a highly tumultuous year for geopolitics:BI Intelligence
Bitcoin's incredible rally continues on Wednesday, up close to 3% against the dollar in early trade in London.
Investors are Selling Gold to Invest in Bitcoin, Key to Multi Trillion Dollar Market Cap
According to ACG Analytics US macro strategy head Larry McDonald, investors have begun to sell gold to invest in bitcoin through the newly launched bitcoin futures exchange of the Chicago Board
Cramer: Bitcoin's futures launch is a 'very big victory' for the digital currency
The launch of Bitcoin futures on the Cboe Futures Exchange over the weekend was a "very big victory" for the digital currency, CNBC's Jim Cramer said Monday. Bitcoin futures, trading under the
Here's what bitcoin futures could mean for the price of bitcoin
Grey Dwyer, BitMEX head of business development, talks with Business Insider executive editor Sara Silverstein about how futures contracts are going to impact the bitcoin community. Following is a tra
Litecoin Price Leaps 30% to New All-Time High
Litecoin price leaped by nearly a third on Monday, raising the sixth-largest cryptocurrency to a new all-time high.
For most of December, the litecoin price had traded between $90 and $100, but on
Bitcoin Analysis December 12, 2017
BTC/USD Bitcoin has been very volatile over the weekend, reaching as low as $13,000. However, after futures trading opened a, it became apparent that buyers were jumping into the Chicago exchange.
Ethereum Analysis December 12, 2017
ETH/USD Ethereum has been choppy over the last several days, as the weekend was noisy. Most of the interest around the world seems to be focused on Bitcoin and the reaction of the Chicagoâs
DASH and Litecoin Analysis December 12, 2017
DASH/USD DASH continues to be very choppy, forming a bit of a âW patternâ over the weekend. Because of this, I believe that we are eventually going to break out to the upside but a move above
BitGo Scores $43 Million as Crypto Goes Corporate
BitGo, the maker of multi-signature cryptocurrency wallets for enterprises, has closed a $42.5 million Series B funding round in a sign that demand has at last arrived for institutional-grade services