Bitcoin prices break $4,400 for a new all-time high

Courtney Goldsmith
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CeBIT 2015 Technology Trade Fair
Surprise, surprise: Bitcoin broke another record high (Source: Getty)

After shooting above $4,000 over the weekend, bitcoin prices continued to rise to a fresh all-time high today of more than $4,400.

One coin reached an intraday high of $4,483.55 this morning before falling back down to $4,186.42 by this afternoon, according to CoinDesk's aggregate price data.

Bitcoin climbed past $4,000 for the first time over the weekend, ticking off another milestone in the long list of "big moments" for the cryptocurrency over recent weeks, according to Iqbal Gandham, UK managing director of eToro.

"Following a fall to $1,800, it has come back strongly and relatively steadily. This is encouraging," Iqbal said.

The volatile digital currency dropped below $2,000 in mid-July, but its price quickly surged to new highs throughout August as its profile continued to rise in the mainstream.

Iqbal said: "Furthermore, the ecosystem is also getting stronger. You now have more places to spend bitcoin, more regulators thinking about the right infrastructure, and more investors learning about the asset. Speculation is rightly moving away from price and focusing on use cases.”

Bitcoin made headlines early this month after a disagreement between its community of developers and miners split the digital currency in two.

The new cryptocurrency, bitcoin cash, was trading at $298.68 today, 2.35 per cent below its previous closing price, according to CoinMarketCap.

Read more: Bitcoin's rocketing: Price breaks (and holds) $4,000

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