Bitcoin Peaks to New Record Highs

Bitcoin peaked to new record highs into the $5K territory on a couple of eastern exchanges on Thursday, hitting another record.

Surging by nearly 400 percent so far this year by market capitalization, Bitcoin rose 2.4 percent to $4,742.91 on Thursday after peaking to $4,747.15 in earlier trading. With a market cap at current levels of $78.42 billion, it has surpassed companies such as American Express and Starbucks Corp.

Scaling issues which has tackled increasing the transactions sizes in the blockchain network with the introduction of SegWit and the fork in Bitcoin with Bitcoin Cash also saw a healthy gain of 5.1 percent to $594.11 on Thursday. The market cap for Bitcoin Cash is now nearly $9.8 billion.

Bitcoin’s rival, ether also saw gains of 1 percent to $382.21 on Thursday. Performance wise ether has gained more than 4,600 percent so far this year making it the stronger performer. The market cap for ether is at $36.1 billion.

Litecoin, the silver to bitcoin’s gold also saw it rising to an all time high, increasing 17.28 percent to $75.57 and over the past week making gains of 49.37 percent.

Totaling more than $170 billion is the combined market cap of all digital currencies. In 1 week it has grown more than $20 billion after it broke through the $150 billion on August 23.

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