Bitcoin price exceeds $125,000

On October 5, the Bitcoin cryptocurrency set a new historical record for value, rising to $125,245.57, which is 2.7% higher than the previous maximum. This is reported by Reuters.

The previous peak of $124,480 was recorded in mid-August. At that time, the growth of the Bitcoin rate was supported by favorable regulatory decisions of the US President Donald Trump administration and increased interest from institutional investors.

Over the past eight trading sessions, the value of Bitcoin has been growing continuously. Additional impetus was provided by the inflow of funds into exchange-traded funds that track the cryptocurrency rate, as well as the positive dynamics of US stock indices.

Against this background, the US dollar weakened against major world currencies, falling to multi-week lows. The reason was the uncertainty surrounding a possible “shutdown” – the cessation of the work of the US government and the postponement of the publication of key economic data, including labor market statistics, traditionally used to assess the state of the economy.

Meanwhile, in the UK, a Chinese citizen was recently arrested, in whose possession was found five billion pounds worth of bitcoins.