Bitcoin price index went up high on Monday, with a 5.5 percent surge and touched a record of $1,422.22 and closed near $1,415 on Monday, as per CoinDesk.
CoinDesk analyst – Alex Sunnarborg, reported a rise in global trading volume majorly from Japan and its bitFlyer bitcoin exchange.
Bitcoin is a digital currency which is used for purchasing goods or services through online trading using any wallet software or an online payment service.
It is the medium through which traders buy digital technologies and with a rise in interest in cryptocurrencies like Ethereum, bitcoin is experiencing more demand.
Spurred by increasing global trading activity, the digital currency is adding more numbers in the market.
Brian Kelly, Founder – Brian Kelly Capital, told a news channel, “The biggest driver right now is you’re starting to see institutional investors take a keen interest in the entire sector.” The firm recently came up with digital assets fund for external investors.
Adding further he said, “I don’t think this is hot money. This is real money that’s going to sit around and build the new internet.”
He also believes that the consensus in the bitcoin community has moved away from Bitcoin Unlimited from last several weeks that points towards a possible split in the currency and upgrade of the current system, known as Bitcoin Core.
Bitcoin prices today opened with $1,402.08 and went up as high as $1,446.68, according to the CoinDesk bitcoin price index.