Bitcoin surges to an all time high. It traded for $4,000 in the last few hours, and is currently trading for INR 275,000 on Indian exchanges. The total gains this year have been mammoth for investors and Bitcoin is now trading at 3 times the price at which it was trading in January 2017.
Bitcoin has been at the center of Media attention in the past few months which has contributed significantly to the increase in popularity of the crytocoin. Several new players have entered the markets and the investor base has widened significantly. In addition, the number of exchanges dealing in Bitcoins has also increased dramatically in the past quarter which has led to easy reach-ability to end investors.
Fears of a war with Korea and dip in financial markets globally are also contributing in a price surge in Bitcoin prices. Read our story on this for detailed coverage.
Investors should exercise extreme caution while trading in Bitcoin right now.