Bitcoin price gets into a new record high above $ 111,000

Bitcoin Continuation of its rally on Thursday, reaching a brand new recording high above $ 111,000.

According to Coin Metrics, Bitcoin reached $ 111,886.41 in the early trading hours in London, before unraveling some of these revenues to trade approximately $ 111,012,00 at 7:03 in London.

Bitcoin’s move was “conditioned by a combination of positive impulse, increased optimism around us crypto-regulation and continued interest from institutional buyers,”-said CNBC James Butterfill on research-focused Coinshares.

The rise in prices in the world’s largest cryptocurrency takes place despite falling in the US stock markets on Wednesday.

Bitcoin usually correlates with stock markets, in particular, with heavy NASDAQ technology.

Bitcoin and shares diversified movements can be the result of investors seeking alternative value stores.

“The rally was also assisted by extensive macro -problems, including a recent decline in Moody’s sovereign debt, which in addition to Bitcoin’s story as a hedgering against fiat’s instability,” Batter said.

Agency ratings Moody’s cut down a sovereign US credit rating Last week.

There were positive developments of the crypto -regulatory front in the US. The law on genius – a bill on stabilo regulation – cleared the key procedure voting in the Senate.

US President Donald Trump and His II and Crypto-Queen David Sachi pushed the US a propelled program in the United States that helped support the market.

Adding to optimistic news for Crypto, JPMorgan CEO Jamie Dimon, noticeable bitcoin skeptic, said the bank said Allow customers to buy digital currency.

This is a developing story. Please check more.

– Mackenzie sigalos cnbc contributed to this story.