The price of one Bitcoin is now worth more than $5000

Japan Emerges as the World's Foremost Hotbed of Bitcoin Trading

On the USA -based Bitfinex exchange, bitcoin rose to $5,228.3 up $403.5, or 8.36%, exceeding a previous high of $5,013.91 reached on September 2.

Reports have recently emerged stating that trading in the currency could resume but with increased regulation.

Bitcoin's valuation has surpassed $5,000 for the first time on Thursday.

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The Western-backed mainstream Fatah party lost control of Gaza to Hamas in fighting in 2007. Hamas does not recognise Israel and has fought three wars with the Jewish state since 2008.

The price of bitcoin, the world's best-known cryptocurrency, has smashed through $5,000 to a new all-time high. Since the start of 2017, the value of the cryptocurrency has increased by 500% this year. High Bitcoin transactions show the high levels of interests the public has on Bitcoin.

Data released last week from SEMrush, a search engine data analytics firm, found the price had a 91 per cent correlation with Google searches on bitcoin, suggesting that all news - whether negative or positive - drives up demand, even if bad news can have a temporary negative effect.

Bitcoin, a virtual currency created from computer code, was worth only a few U.S. cents was launched in 2009 by someone using the Japanese-sounding name Satoshi Nakamoto.

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Bitcoin's market cap has reached $80 billion during the latest rally, which is more than half of the total cryptocurrency asset class. In fact, Russia's central bank said they are considering banning cryptocurrency trading websites.

The main reason why the valuation of Bitcoin is rising is due to a rise in demand for the cryptocurrency.

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