+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Bitcoin keeps surging, makes another new high for 2015

Nov 3, 2015, 03:40 IST

A beer poured for a customer sits on a bar next to a Bitcoin sign in central Sydney, AustraliaThomson Reuters

2015 may be the year that bitcoin rebounded.

Advertisement

The digital currency smashed through a new high for the year on Monday morning, trading at nearly $370 and continuing its impressive streak as of late.

Bitcoin has been on a big run for much of the last two months, gaining about 70% on private exchanges since hitting a second-half low of $213 in late August.

For investors who bought in during bitcoin's headiest days to date, in early 2014, that's not enough of a rebound: before the price of the digital currency plummeted in 2014, it reached more than $1100 a bitcoin.

Now, after bitcoin's big seven-week run, it is trading at around $363 a coin.

Advertisement

Even as detractors to bitcoin point toward a difficult-to-regulate culture that has popped up around the cryptocurrency, there is a growing push from well-known investors to advance the payment technology.

In October, investors including MasterCard and Bain Capital Ventures provided backing to Barry Silbert's Digital Currency Group. Already, Silbert's latest project has backed dozens of cryptocurrenty startups, largely focusing on bitcoin deals.

BitcoinCharts.com tracks the daily price of the cryptocurrency, and captures the last month's run-up in value. Monday morning marked the biggest single day of gains for bitcoin, as it rose about 10% in one day.

Bitcoin value has been growing steadily over the last two months.BitcoinCharts.com

NOW WATCH: How hedge fund legend John Paulson built an empire off the 2008 financial crisis

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article