Bitcoin hits all-time high in trading against the dollar

The cryptocurrency bitcoin hit an all-time high in trading against the dollar on Friday. A single bitcoin is worth more than $1,340. File Photo by Carlos Amarillo/Shutterstock

April 29 (UPI) — For a second consecutive day, the cryptocurrency bitcoin hit an all-time high before slipping some in afternoon trading.

At its high point Friday morning, the virtual currency was trading at $1,343.59, though it has since dropped by about 1.5 percent to $1,308.50 since reaching its high-water mark.

A single bitcoin topped its previous high of $1,330 on Thursday, according to the currency tracker Coin Desk.

The rally marks the continued growth of bitcoin’s value since the beginning of 2017, a growth that has hit warp speed over the last 30 days. Bitcoins have increased in value 6 percent this week and 34 percent in the last 30 days.

The related virtual currency ether has also gone on an impressive run during the same time period. Ethers were trading above $67 on Friday, a one-day jump of nearly 9 percent.

Ethers are often traded against bitcoins, meaning the relative value of each can be linked to one another.

LEAVE A REPLY