article The cryptocurrency bitcoin has reached its global trading cap, but the price is still far from its all-time highs.
The cryptocurrency has reached $4,857.23 on Friday morning, according to data from Coinmarketcap.
That’s about a 6% gain since late March.
A surge in trading on exchanges has helped drive up the price of bitcoin, which peaked in early June at $4.89, and is now down about 1% from its peak of $4.,500.
But that gain is dwarfed by a 10% gain in the last week, which was driven by more than $1 million in trades on major exchanges.
Investors have been pouring into the cryptocurrency, buying bitcoins on exchanges and then selling them.
In a bid to drive up prices, some of those trades have been priced in the form of futures contracts, which can be bought and sold at a profit.
Marketcap, which compiles market data from exchanges and cryptocurrency exchanges, said on Friday that bitcoin had reached an all-year high of $6,085.80, a price that would be worth about $2.3 billion at the current market price.
But that increase is dwarf by a 20% jump in the past week, to $6.29.
That means the price on Friday was more than half of the $4 billion the cryptocurrency was worth at the end of March.
Investors are also pouring into futures contracts to help drive up bitcoin’s price, but that also could put it at risk of crashing.
“As long as bitcoin’s value remains at this level, there’s nothing we can do to stop it from continuing to rise,” said Matthew Graziano, a trader at Coinbase.
Bitcoin is now trading at $631,000, down about $50,000 from the peak it reached in June.
And bitcoin’s decline on Friday could have implications for future prices, which could be influenced by the ongoing financial crisis.
There is currently $13 trillion in U.S. currency in circulation, according, and it is currently difficult for U.K. regulators to control how the value of that currency is used.
That means the currency is not subject to U.N. regulations on inflation, capital controls or other measures that would prevent a spike in price.
For its part, the U.G. will likely continue to regulate the currency in the coming months, with some countries planning to limit or outright ban bitcoin withdrawals.
However, there is one area where bitcoin could still find a bright spot: the emerging markets.
Some of the world’s largest economies are trying to ease capital controls and reduce the use of cryptocurrencies to fund trade and purchases, but those efforts are unlikely to be enough to curb bitcoin’s rise.
Still, bitcoin is unlikely to fall too far, analysts say.
“There’s going to be a gradual but significant decline in bitcoin prices,” said Alexey Lutsenko, an analyst at Nomura Holdings.
“But if you are going to get it to $5,000 or even $4 million, then that’s a pretty good investment.”