Investing.com – Bitcoin prices recovered from early session losses to trade close to all-time highs on Wednesday, as digital currency seeks break above $5,000 for the first time in its nine-year history.
On the U.S.-based Bitfinex exchange, rose to $4875.2 up $100.4, or 2.10%. Bitcoin is just shy of its recent peak of $4,969 with a market cap of about $81 billion.
The sharp rally in Bitcoin comes a month after China clamped down on bitcoin related activity, ordering domestic bitcoin exchanges to cease operations.
In other cryptocurrency news, fell 1.41%, to $312.53, while , the second largest cryptocurrencies by market cap, added 1.36% to $303.52.
Investors are closely monitoring ethereum ahead of the upcoming Byzantium hard fork, the first iteration of the long-awaited Metropolis upgrade – expected October 16.
The market cap of both and is well below that of Bitcoin at about $5 billion and $29 billion, respectively.
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