Bitcoin hits all-time record high of $30,000

WASHINGTON (Sputnik): The cryptocurrency has broken all-time records since the beginning of December, its price surging past its 2017 results, amid the weakening of the US dollar.

Bitcoin reached a new high, trading at $30,000 on Saturday, according to CoinMarketCap, a portal which monitors over 20 stock exchanges. CoinMarketCap stated that at 12:21 GMT Bitcoin grew 2.50 percent to $30,094 US, while on Binance, the largest crypto exchange by transaction volume, it gained 2.85 percent, reaching $30,145.

The cryptocurrency reached $19,650 in December 2017 and then lost most of its value, falling below $4,000 in November 2018. However, it started regaining ground over the past years.

Launched in 2009, Bitcoin was the first cryptocurrency to use a decentralised blockchain-based network. At the moment, it accounts for approximately 71 percent of the world’s rising cryptocurrency market. Its value is based on a “mining” process, so BitCoin is not subject to any central bank policies or regulations.