Bitcoin Breaks $6,100 - A New Record High

Bitcoin had a bit of a dip when China blocked things and is working on their own cryptocurrency, but has since fully recovered and continues to soar. The rate of gain of this stock is pretty remarkable but I do fear that it can't last forever. If I was mining, I'd be pretty happy. If I was thinking of buying some to speculate with, I'd probably have to pass as this could drop at any moment.

In an unscientific survey carried out by CNBC this week, nearly half of the more than 23,000 people who voted said bitcoin is heading to over $10,000. Former hedge fund manager Michael Novogratz told CNBC in a recent interview that he sees bitcoin heading to $10,000 in the next six to 10 months. Bitcoin has also been helped by favorable regulation in Japan which recently allowed companies to accept the digital currency as payment. Around 57 percent of the trade in bitcoin was executed in Japanese yen on Saturday, according to industry website CryptoCompare.

Source: CNBC