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The bitcoin exchange rate has soared above $1,000, hitting a three-year high.It broke the barrier on 1 January before falling back shortly afterwards, but it recovered again in the early hours of 2 January and it was trading above $1,020 (£831, €975) at the time of writing.The cryptocurrency emerges from a year in which it appreciated more than 100%, starting on 1 January 2016 at $$411.99 and ending on 31 January 2016 at $908.17.As Coindesk notes, while bitcoin remains the most widely used and successful cryptocurrency, it was not the only one which appreciated in the past year, as all major cryptocurrencies, including Ethereum, Ripple, Litecoin, Monero and Dash, gained in 2016.The news of bitcoin's price increase comes as China, one of the biggest trading markets for the cryptocurrency, saw its central bank announce measures tightening requirements for cross-border transactions in an effort to fight money laundering.Analysts think that uncertainties brought by world events such as the devaluation of the yuan in China, monetary reforms in India, the economic crisis in Venezuela and the shock results of popular votes in the Brexit referendum, the US presidential election and the Italian constitutional referendum, have driven demand for bitcoins, pushing the price upwards.The growth of the digital asset ecosystem, including new blockchain and bitcoin-based services entering the market or expanding their reach, has also renewed confidence and interest in cryptocurrencies.Analysts believe bitcoin's upward rise will continue throughout 2017, possibly smashing the all-time high point of more than $1,230 set in November 2013, at the height of the bitcoin rush.

2013 was a momentous year for bitcoin, whose history has been marked by price volatility.crypto bitcoin faucetIts price spiked in April and in November 2013, only to crash to below $100.now accepting litecoinThe recent price surge will also fuel ongoing worries over a new bubble taking place.bitcoin billionaire pc gameBusiness Bitcoin ChinaThe head of a major bitcoin exchange in China says few people there use the cryptocurrency to get around rules on how much money they can take out of the country, and despite a publicized meeting with the central bank last week the exchange, BTCC, hasn't been told explicitly to check capital outflows.Bitcoin's price took a steep dive Friday after China's central bank cautioned investors to take a rational and careful approach to investing in the digital currency.moon bitcoin scam

The price had surged to record highs.The central bank's comments come as Beijing escalates a campaign to check capital outflows and slow the depreciation of the yuan currency, which lost nearly 7 percent of its value against the U.S.bitcoin valor inicialBusiness - Get the best of Newsweek delivered to your inboxWith bitcoin's soaring price and the relative anonymity it affords, some believe the digital currency was becoming an attractive option for tech-savvy Chinese to hedge against the yuan and circumvent rules that limit individuals to $50,000 of foreign exchange each year.The Shanghai office of the People's Bank of China (PBOC) said Friday it had met with BTCC to understand the platform's operations, highlight the risks, remind the exchange to abide by the law, and "urge the platform to carry out self-examination and corresponding clean-up and rectification" according to law.Asked if BTCC had received direct pressure on outflows, CEO Bobby Lee, who founded BTCC in 2011, said: "No.bitcoin halving time

Not as of yet... Nothing verbal or written to us."InBeijing, the PBOC told two of China's other big bitcoin exchanges, Huobi and OKCoin, not to mention the depreciating yuan when advertising their platforms, the influential news outlet Caixin said, citing people familiar with the meeting.Star Xu, CEO and founder of OKCoin, confirmed there had been a meeting of the PBOC and leading bitcoin exchanges on Friday to discuss the operation of trading platforms."Theindustry can benefit from balanced, risk-based regulation and/or oversight, and we look forward to further constructive discussions with the regulators and industry participants," Xu told Reuters in an emailed comment.While it's possible to buy bitcoin with yuan and then sell it abroad for a foreign currency, BTCC's Lee said "to be honest, not many" people were doing it because of the cost.The renminbi price of bitcoin carries a premium to the price in other currencies, he noted.In addition, buy or sell orders in the 100,000 yuan ($14,423) to one million yuan ($144,233) range, and up, would influence the bitcoin spot price and affect the transaction."For

that range, you're not going to be able to do it at a good rate.You're going to lose 10 percent of your money," Lee said."Maybe the individual household might buy 20,000 more dollars worth of bitcoin than their $50,000 (forex) quota, but that's a drop in the bucket."Still,Lee said various indicators, like active trading accounts, new users, actual deposits and withdrawals, were "very active" in China, and some key BTCC metrics were at "all-time highs", though he declined to be more specific.Bitcoin is not regulated in China, but the PBOC has declared it is not legal tender, and is instead a "virtual good", Lee said.That puts it in the same category as other goods."IfI pack a suitcase and take a plane to the United States, do the clothes, does the computer in my suitcase, does the watch I wear count towards capital flight?""Where do you draw the line?"He said no new or planned rules regarding bitcoin were discussed in the latest meeting with the PBOC, and he estimates it will be two to three years before China regulates bitcoin.In a statement on its website, BTCC, which calls itself the world's longest running bitcoin exchange, said it regularly meets with the PBOC and "work[s] closely with them to ensure that we are operating in accordance with the laws and regulations of China."Exchanges