Bitcoin has already passed the $1,400 mark

May 2, 2017 19:23 GMT  ·  By

Bitcoin value is skyrocketing again, passing the $1,400 mark and heading fast for the $1,500 mark to hit yet another all-time high. 

Just the other day, Bitcoin rose above $1,400, which set a new record for the cryptocurrency. Now, as Bitcoin sits at $1,489, the price is set to once more go through the roof in the next few days, if not in the next few hours.

The latest highs come as prices in ether markets rose to new all-time highs, CoinDesk points out. Following a good end of 2016, Bitcoin's value went down for a while, before starting to rise once more. The most critical moment, perhaps, was back in January when the SEC rejected the bitcoin exchange-trade fund proposed by the Winklevoss brothers. Before the ruling was handed down, Bitcoin rose to over $1,325, but fell down hard below $900 by the end of the month. By the end of March, Bitcoin had dropped as low as $891, after which point it started rising again.

Now, this new stretch of going up and up indicates a good rekindle of the momentum it had at the beginning of the year.

Working towards acceptance

In recent months, there's been a lot of attention given to Bitcoin and other cryptocurrencies. Russia, for instance, is reportedly looking into ways to recognize it in 2018. Reports indicate that the Ministry of Finance and the country's central bank are developing an official position on Bitcoin and other digital currencies as they try to fight money laundering, which is a massive problem for the country.

Bitcoin, of course, isn't regulated by any government. Allowing Russians to make Bitcoin transactions, however, with the note that authorities need to be able to identify the people behind these transactions like they would bank operations, would make life easier for a lot of people who are threatened with jail.