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, bitcoin 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.
Investors are closely monitoring ethereum ahead of the upcoming Byzantium hard fork, the first iteration of the long-awaited Metropolis upgrade – expected October 16.