Bitcoin surges through $4000 as Korean peninsular tensions rise

Bitcoin surges through $4000 as Korean peninsular tensions rise

Investor Howard Marks concurred, saying that the bitcoin market has all the signs of being like the tech boom of the late 1990s in that it is an "unfounded fad ... based on a willingness to ascribe value to something that has little or none beyond what people will pay for it".

Throughout June and July, Keiser continuously laid out possible factors that could push bitcoin price over the $4,000 region and potentially to the $5,000 mark. Meantime, the combined market cap reached $135,5 billion, just two days after exceeding its previous record of $127 billion.

Not all cryptocurrencies have faired so well, though, with ethereum showing -4 percent for the last 24 hours, Ripple, -5.5 percent, and bitcoin cash, -8.2.

Most financial analysts remain optimistic about the future of the digital currency. The price, which rose as high as $4,200 Sunday morning, has more than quadrupled so far this year.

SA's Semenya claims third world 800m title
Semenya added: "I'm lucky to have a great support team who work with me". I have to protect the sport, and of course we have done this carefully".

Many Wall Street experts predict bitcoin's price will continue to climb, potentially past $5,000, and possibly perform better than all USA -based stocks in 2017.

"The Bitcoin client is about 30,000 lines of code", Gün Sirer said Tuesday at Business of Blockchain, a conference organized by MIT Technology Review and the MIT Media Lab. A growing bitcoin demand from institutional investors, as well as the market confidence in its ability to scale will fuel bitcoin price to move higher. One analyst, Thomas Lee of Fundstrat Global Advisers, believes Bitcoin is an "under owned asset" and prefers the virtual currency over gold. While investment in the digital currency sounds like an easy win, bitcoin's price could fall just as quickly despite expert predictions.

He noted on Twitter that upticks in the bitcoin price and Google searches have historically led to price corrections.

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