Bitcoin hits new all-time high as price drops as new bitcoin mining chip hits the market


The price of Bitcoin hit a record high on Wednesday, as investors rushed to cash out in anticipation of a new mining chip that could potentially enable a future increase in Bitcoin’s value.

The rally came as the bitcoin price reached a new all time high of $7,547.24, the highest level on record, according to CoinDesk.

The previous high was set in October 2017, according the CoinDesk Bitcoin Price Index.

The latest rise was the largest since the end of the Great Recession in 2009, according data from Bitstamp, which has a market capitalization of more than $2.4 billion.

The bitcoin price has been gaining momentum in recent months as more companies and banks accept the digital currency as a form of payment.

However, Bitcoin is still not widely accepted by consumers due to its high transaction fees, which have prompted some investors to dump the currency altogether.

The price of one bitcoin was trading at $6,724.00 on Wednesday.

The value of all cryptocurrencies is based on the average price of their current prices, so any gains seen in the past 24 hours will have little bearing on the future value of Bitcoin.