Bitcoin is getting close to its all-time high

Bitcoin is closing in on record territory.

The cryptocurrency trades up 2.1% at $2,573 a coin as of 7:03 a.m. ET. The early advance has bitcoin on track for its best close ever. It would need to top $2,799 to put in its best print of all-time.

Monday’s advance comes absent of any real catalyst. The bid seems to be a continuation of the gains that developed late last week after China’s three biggest bitcoin exchanges announced they were allowing customers to begin withdrawals for the first time since February . At the time, bitcoin was threatening its record high of $1,161 a coin before plunging more than 10% on the news.

Since then, however, bitcoin has seen a steady stream of good news. In early April, Japan announced bitcoin had become a legal payment method . Additionally, Russia’s largest online retailer, Ulmart, began accepting bitcoin despite Russia’s saying it wouldn’t consider the use of the cryptocurrency until 2018

Hoever, there has been one big hurdle. Back in March, the US Securities and Exchange Commission rejected two bitcoin ETFs . It has since taken public comment on its decision regarding the Winklevoss ETF, but has not made an additional ruling.

Bitcoin is up 172% so far in 2017.

Source – Business Insider

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.