Bitcoin Surpasses $14000 Mark on Thursday, as S. Korea Rally Continues

Friday, 08 Dec, 2017

Bitcoin briefly passed $14,000 today, gaining more than $2000 in 24 hours.

According to Bloomberg, the price of the digital currency surged up to a record 14-thousand-199 dollars at one point on Thursday.

The Bitcoin's price has increased up to 1500% since January 2017 and around 3500% since January 2016.

Coinbase said it is trying to resolve the problem, but it did not say when it would be fixed.

The interesting thing is that the popularity of Bitcoin in Korea is even bigger than the rest of the world because the price of single Bitcoin already reached at $19,000 on local exchanges.

Meanwhile, in South Korea where Bitcoin-mania is in full effect, Bitcoin is trading on some platforms at a premium over more than 20% compared to global rates, Bloomberg reports. Meanwhile, other cryptocurrencies like Ethereum and Ripple were declining in value as of Thursday morning.

This week's unprecedented price-action comes ahead of Monday's launch of futures trading on the Cboe exchange.

At 06:30 (UTC), bitcoin price rose above $12,500 as continued optimism in global markets saw price peak to a new all-time high of $12,947 (Coinbase), a gain of almost 10% on the day.