Bitcoin price continues growing. The most popular currency reached 11 500 USD on Tuesday. It the highest price for Bitcoin since the beginning of the year.
Bitcoin price was reaching $11 658 on the Bitfinex exchange. Despite its active growth, Bitcoin rate is still about 20% lower than that of early January.
Other cryptocurrencies are falling in price. The second biggest cryptocurrency by market cap, Ethereum is o.88% down, at $ 931, and the third-biggest cryptocurrency by market capitalization, Ripple declined in price by 1.32%, to the level of $1.09
It should be noted, as early as on February, 6th, Bitcoin price fell down to 6 000 USD amid regulatory restrictions of the cryptocurrency trading in some countries. Besides, the fall in crypotcurrency prices was also caused by a hack on cryptocurrency exchange Coincheck in which over $500 million in digital currencies was stolen.
Last week, South Korea announced that it won’t ban the country’s cryptocurrency exchanges. That resulted in gradual rise of cryptocurrency rates. The market also responded positively to the U.S. regulators’ comments about the need for balanced regulation of the cryptocurrency market and investors protection.