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Why Is the Bitcoin Price Rising Past $5,000 Today?

Why is the Bitcoin price rising

wallstreetexaminer.com / by David Zeiler / October 12, 2017

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click hereReposted with permission.

The Bitcoin price is rising again as several catalysts have come together to drive its U.S. dollar value up 23% over the past week.

The price of Bitcoin rose to $5,386.23 today (Thursday, Oct. 12), according to the CoinDesk Bitcoin Price Index. That’s an all-time high, easily eclipsing the previous high of $5,013.91 set Sept. 2.

The king of cryptocurrencies is now up 447% year to date and 730% over the past 12 months.

The latest Bitcoin bull run comes just one month after the Bitcoin price fell as much as 41% in two weeks. When critics in the media and Wall Street again called Bitcoin a bubble and pronounced it dead, I explained why they were wrong.

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