Published on November 20th, 2017 | by bitcoin0
Bitcoin Passes $8000 Price Ceiling for First Time
LONDON (Reuters) – Bitcoin hit a new record high on Monday after smashing through the $8,000 level for the first time over the weekend, marking an almost 50 percent climb in just eight days.
A bitcoin sign is seen during Riga Comm 2017, a business technology and innovation fair in Riga, Latvia November 9, 2017.
Bitcoin traded as high as $8,197.81 on the Luxembourg-based Bitstamp exchange, up over 2 percent on the day and around 48 percent up since dipping to $5,555 on Nov. 12.
Retail investors, however, as well as some hedge funds and family offices, are piling into the market.
The “market cap” of all cryptocurrencies hit an all-time high of over $242 billion on Monday, according to trade website Coinmarketcap.