- Bitcoin hit a new record high Thursday with rising investor interest causing a rally for the price of the cryptocurrency.
- The bitcoin price hit an all-time high of $5,231.28 in early trade on Thursday, according to data from industry website Coindesk.
- Last month, Chinese regulators banned cryptocurrency exchanges with some of the largest in the country shutting down operations.
- A report by Cryptocoinnews.com, citing Chinese state-owned news company Xinhua, said that bitcoin trading will likely resume with more regulation.
- “Speculators are bullish on bitcoin’s value with the anticipation of China’s reintegration with global crypto markets,” Aurelien Menant, CEO of cryptocurrency exchange Gatecoin, told CNBC by email on Thursday.
Speculation that China could reverse the ban of cryptocurrency exchanges is driving sentiment.
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