Bitcoin is posting new record highs on Thursday, continuing its recent bull run.
The cryptocurrency is down 1.51% to $4,451.00 at 11.20 a.m. BST (6.20 a.m. ET). That marks a new high for the currency, which has been on a tear since breaking through $4,000 early on Sunday morning.
- Markets Insider
Bitcoin has been on a strong bull run since the start of the year, gaining over 300% since January amid renewed interest in the digital currency and blockchain technology more generally.
Other digital currencies continue to move inline with Bitcoin, which is the biggest cryptocurrency by market value. Bitcoin Cash, which was split off from Bitcoin proper at the start of the month, is up 0.17 against the dollar to $299.42 on Thursday morning.
Ethereum, the second biggest digital currency by market cap, is bucking the trend. Ethereum is up 6.34% against the dollar to $320.35.
Mati Greenspan, an analyst at trading platform eToro who closely follows the crypto space, says in an email: “Crypto markets are back on their feet and forging new record gains. The market cap of all the cryptocurrencies in circulation reached a new high of $142.8 Billion earlier this morning.”