Money & Markets Bitcoin and Ethereum are hitting record highs Fox Photos/Getty Images) Bitcoin just surged to a new record above $US2,800.It tops the previous high of $US2,799, with the cryptocurrency reaching a peak earlier today of $US2,854.40.A short time ago, Bitcoin was trading at $US2,800.20, a gain of just over 4%.The latest surge shows that speculation in the market shows no signs of abating, after prices for Bitcoin dipped back below $US2,000 at the end of May.Prices for the world’s second largest cryptocurrency ethereum have also ripped higher, a short time ago up more than 5% to $US256.16: There are no obvious reasons for the continuing rally.Instead, the price action has seemingly been driven by renewed interest from speculative buyers this week as the frenzy surrounding cryptocurrencies continues.Business Insider Emails & Alerts Site highlights each day to your inbox.Email Address Join Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

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New LocalBitcoins Volume Charts (additional currencies).Detailed explanation of split key addresses (Coin Dance Vanity).Alison Banney Something remarkable is happening with Bitcoin.litecoin to plnThe Cryptocurrency has reached record highs over the past week, rising nearly 7% in the first two days of May, according to leading research site CoinDesk.The price of Bitcoin rose above $1,300 late last week and continued to climb to over $1,400 on Tuesday.bitcoin borrowingAt this level, Bitcoin would have seen a value increase of 44% compared to the same time last year.It even reached as high as $1,548 on the Hong Kong exchange Bitfinex, which is the second largest cryptocurrency exchange.litecoin mining software downloadToday, Bitcoin has already reached a high of $1,504, according to CoinDesk.This surge is a result of increased interest in cryptocurrency, and a rise in global trading activity.

This upward trend follows a strong 2016, with Bitcoin rising 125% in value and finishing the year on an all-time high reaching $1,140 and surpassing its market capitalization, standing at $16.1 billion.However in early 2017 Bitcoin dropped, falling to $885 in January following a warning from the Shangai office of the People’s Bank of China of the cryptocurrency’s unpredictable market fluctuations.In Saxo Bank’s Outrageous Predictions 2017 Report released in December, which identifies the extreme market events they deem to have potential of upsetting the status-quo, Global Macro strategist Kay Van-Petersen identified potential huge gains for Bitcoin.“Cryptocurrencies are here to stay given the history of booms and busts in fiat money and debt excesses.Bitcoin as the face of cryptocurrencies benefits from this chaos,” said Van-Petersen.“We could see Bitcoin easily triple over the next year going from the current $700 level to +$2,100 as the block-chains decentralized system, an inability to dilute the finite supply of bitcoins as well as low to no transaction costs gains more traction and acceptance globally.”While Van-Petersen was making this as an outrageous prediction, rather than an official outlook for 2017, the past week’s events is cause to believe that this is in fact a valid prediction that looks quite likely to become a reality.

Vote with your Bitcoin signatureBitcoinocracy is a free and decentralized way to measure the Bitcoin community's stance on a given proposition.Voting requires proof of bitcoin holdings via cryptographic signature.Signed votes cannot be forged, and are fully auditable by all users.Bitcoin Addresses44998.00007000 BTC: 16cou7Ht6WjTzuFyDBnht9hmvXytg6XdVT26339.08733928 BTC: 1KwA4fS4uVuCNjCtMivE7m5ATbv93UZg8V5200.00010000 BTC: 1H3rqRbs3QTDzH5po6c9xeoc9xpwhWQUQB4192.74527853 BTC: 1HFktsV1CcAV7pBhKCJn38WxMLA12AqnVS3960.93760193 BTC: 114i37MKtRzDBkDKGoSqnY8hiywvAxz5J72322.90231000 BTC: 1GbVUSW5WJmRCpaCJ4hanUny77oDaWW4to2126.14383214 BTC: 1QEEvKnPjGyWsvGQPSm7xkVuKHbEge5bhv1328.76141000 BTC: 1M1RdciqSA93SAtPHbXXoLU7FfmiAKRrRZ1126.27545646 BTC: 1Xk72QhLND7JRggkHf2fJGB7VbbNehEAU1075.11970000 BTC: 19WRjauCatS6Go6DKqZyK9zJRNyovWSuRU1052.98375635 BTC: 15EBvwYE2pgHVPUMEwJRp7zmuX8HdQtkeH1041.13276794 BTC: 1FoXbDsvXgwVoFwkszaZjkuRRDADoWTygX915.96200954 BTC: 1EBQU2kDqn2tpsdz9bnTZYczw1tdymcsXq723.20040400 BTC: 19u7r9NhnHNaRDqCvuKYt6LWBdFpjcBtdL638.15291615 BTC: 17SiG5zPVADe9KUAxsGTj65zDdqfMkeTLe635.91789507 BTC: 1BMjmWXy7hnYnJwCY1GYUsL9Ya9WdVZyTW500.00051000 BTC: 12s5M58y5JGyCuZDFbe1JCTGz77gSYHEt7500.00051000 BTC: 15dQKdYDM7wPUiiT6GoEogKb1UwMs7YeWD500.00051000 BTC: 162pDsTzJnech2JmS4eGqynVWVweexkGUT500.00051000 BTC: 16z3hx9RtgStbnK5Ka4KJKTUiSi7keJYQD500.00051000 BTC: 19dLUXJEB8SDnvHQynQN6ow5CQuyfAqVW500.00051000 BTC: 19oXia3VxPdjXT2ZDJ6eagD24UcH5pSHxK500.00051000 BTC: 1ASQ3VMgdQHR9Xz8UL8AhCX649TEDDUJmi500.00051000 BTC: 1B1Xtjzas12G747SMtTREBqxPadeJprnjw500.00051000 BTC: 1B79kwQNyL1HmQfunZXjwhvKSLYgnkR1Hs 1 2 3 4 5 … Next › Last »