Bitcoin rallies to hit another milestone in record-breaking year

Alys Key
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The cryptocurrency has been on the up and up in the past few months (Source: Getty)

Bitcoin has hit another new high of $2,200. At the time of writing it was trading at $2,210.95

The milestone marks further rapid growth for the cryptocurrency, which has been jumping in value since the beginning of this year.

Heightened trading in Asian markets and the backing of blockchain technology by major financial institutions are thought to have contributed to its fast rise. The currency has grown by several hundred dollars in the past few weeks alone, having hit $2,000 just two days ago.

While bitcoin is still associated with incidents of cyber crime, such as the recent WannaCry hack, its image has been cleaned up lately by increased regulation.

LedgerX, a New York-based bitcoin options exchange, just closed an $11.4m funding round to help it operate a regulated exchange and clearing house for bitcoin and other digital currencies.

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