Bitcoin prices have jumped to a fresh all-time high

Courtney Goldsmith
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Traders are bullish on bitcoin (Source: Getty)

Bitcoin lovers rejoice - the price of the cryptocurrency has set a new all-time high.

Continuing its steady climb from $1,100 at the beginning of April, bitcoin pushed to a high of $1,343.59 today, according to CoinDesk data. That marks a more than 20 per cent increase in the past few weeks.

The rise came amid the prospect of mass-adoption of digital currency in India and Japan and reports that the US Securities and Exchange Commission (SEC) will review its decision to block the listing of the first US exchange-traded fund (ETF).

The SEC rejected the long-awaited bitcoin ETF last month due to a lack of regulation in the world's bitcoin markets, causing the currency to plunge to below $1,000.

While on-the-street adoption of bitcoin is the "real market-mover", according to Mati Greenspan, senior markets analyst at eToro, the ETF would have been a massive boost to bringing the cryptocurrency into the mainstream by persuading more professional investors to jump in.

However, Greenspan said a bitcoin ETF is "only a matter of time".

Read more: Bitcoin prices jump as Japan makes the cryptocurrency legal

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