Bitcoin bursts through $5000 for the first time

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The bitcoin prices have finally broken through their all time highs and through the $5000 region.

Now, however, that will no longer be a problem, because Coinbase announced on Thursday that it is beginning to roll out the ability to buy bitcoin, ether, and litecoin instantly, noting on their blog that this "has been a highly requested feature".

On 10 October, Russia made a decision to block access to websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said.

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What are your expectations from the ongoing Bitcoin boom? People are continuing to hold "initial coin offerings" of newly invented cryptocurrencies.

The price surge on legacy bitcoin (BTC) began several days ago, boosting prices from a temporary valley of $4,800 up to today's mark, one of the quickest moves upward in the last six months. Legal and logistical barriers make it hard to sell a newly created cryptocurrency for conventional currencies like dollars or euros.

Should rumours reported in state media be confirmed, then what is by far the most well-known and traded of more than 1,000 so-called cryptocurrencies could soar to even greater heights, experts predict. The current price action brings bitcoin's gains for 2017 well in excess of 400%.

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So the market may be shrugging off the possibility of another fork in November because it doesn't expect another fork to hurt Bitcoin's value.

The fact that Coinbase will allow instant off-platform withdraws for as much as $25,000 worth of bitcoin before payment is received is a pretty strong statement in regards to how confident they are in their fraud prevention systems. Whatever might be the reason, it's interesting to see Bitcoin's journey.

Bitcoin's market cap is now within touching distance of $90 billion after the cryptocurrency gained over 10% over a 24-hour period.

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