How to beat the bullseyes trading frenzy
The price of Bitcoin is going up again, thanks to its rally in popularity.
On Monday, the price of the virtual currency hit a record high of $5,966.60.
It has since climbed by more than 50% to a high of around $6,300.
But the latest rise is coming at a time when the price is also trading at a record low.
The rally in Bitcoin has taken place over the past few days, as people have bought Bitcoin in anticipation of an announcement by the Federal Reserve.
This week, the central bank announced it was preparing to begin to reduce its benchmark interest rate from 1.75% to 1.25%.
The news comes as a new bitcoin exchange platform has launched.
Kraken has opened a new trading platform in New York and plans to expand to London, according to Bloomberg.
The exchange is expected to be up and running by the end of the year.
Bitcoin prices are also surging again, with the price hitting an all-time high of over $531 on Monday.
The surge in popularity comes as the market is also getting a new round of hype.
The price of a Bitcoin has been rising since the US government announced last month that it was beginning to remove its regulations to curb the virtual currencies trading.
This is the second time the government has done this, following a ban in October.
The Federal Reserve is expected soon to start to reduce interest rates for the first time in six years.
The announcement comes as many are looking forward to the Fed’s decision.
The central bank will begin lowering the rate at its December meeting, and will be taking a $100 billion bond rate cut in January.