Bitcoin Price Hits New All-Time High, Industry Expects $5000

Bitcoin has reached a new all-time high of $4580 as prices shoot up a further six percent in 24 hours.

Data from Coinmarketcap shows averaged exchange trading values at $4576 as of press time Tuesday, a clear $130 higher than the previous all-time high on Aug. 15.

Reacting to the news, industry commentators were quick to praise previous bullish price forecasts from figures such as John McAfee and Max Keiser, who are confident $5000 per coin is an imminent occurrence.

#Bitcoin reaches a new all-time-high price on Coinbase, Bitstamp, Okcoin Intl, and Bitfinex. $btc $btcusd
)

There’s been similar action for Ethereum (ETH), which has grown upwards to challenge its own previous highs this week. Meanwhile, Litecoin is also charting new territory, capping 1400 percent yearly gains.

The market enthusiasm, which also includes a record cross-crypto market cap of $161 bln and trading statistics, is at odds with the increasingly jittery regulatory landscape.

Specifically, ICO tokens are coming under new scrutiny from both US and Chinese lawmakers this week.

NEO, billed as the “Chinese Ethereum” by proponents, has reacted sharply to news its team had closed usage to Chinese consumers, losing up to 19 percent of its value Tuesday.