Bitcoin reaches its historic high above $ 11,700 as recovery accelerates


In a mbadive rebound from a 20 percent drop last week, bitcoin surged to a record high above $ 11,700 on Sunday.

Source: CoinDesk

On Monday, November 27, former Fortress hedge fund manager Michael Novogratz predicted on CNBC's "Fast Money" that bitcoin could "easily" be at $ 40,000 by the end of 2018. But Novogratz said at the Consensus Invest conference on Tuesday e CoinDesk that cryptocurrencies like bitcoin "will be the biggest bubble" of our lives ".

Bitcoin t Japanese yen settlement accounted for about 58 percent of trading volume, while trade in US dollars with bitcoins accounted for about 23 percent, according to CryptoCompare.

The bitcoin derivative, the bitcoin cash, also rose almost 13 percent on Sunday, to $ 1,606.06, according to CoinMarketCap. The ethereum digital currency rose more than 3.5 percent to $ 480, showed CoinMarketCap.

Bitcoin's fast profits mean that twins Cameron and Tyler Winklevoss, founders of the Gemini digital currency exchange, are probably the first known bitcoin billionaires. The twins together had $ 11 million in bitcoin at $ 120 per coin in April 2013. With the bitcoin above $ 11,700, that holding is now worth more than $ 1 billion.

A representative of the Winklevoss twins did not immediately respond to a CNBC request for comment.

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