In the early hours of Thursday, October 12, 2017, the price of Bitcoin hits new all-time highs. The pioneer crypto coin climbed to $5,220 in early hours trading.
Crypto coin News previously reported late on Wednesday that the price levelled at $4,780 from its recent high of $4,900.
What’s driving the price?
According to Crypto coin News and based on several industry discussions, there are no major particulars but these are the basics:
It is difficult to pinpoint one single driving factor behind the Bitcoin Price surge because through the exit of the Chinese market, the global Bitcoin exchange market has restructured and the Japanese market has evolved into the largest Bitcoin market overtaking the US.
Three major factors that have contributed to the recent price surge of Bitcoin most likely are the SegWit2x hard fork in November, introduction of national licensing program for cryptocurrency exchanges in Japan, and the rise in demand for Bitcoin in the US market by institutional investors.
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