Bitcoin price approaches $ 6000

Baku. 13 October. REPORT.AZ/ Price of Bitcoin increased to $5874 in the morning hours reaching an all-time high.

Report informs referring to Investing.ru website it was caused by positive news from China.

The news that China will not ban bitcoin trading led to rise of bitcoin price by $500 or 9.2% in one day. Bitcoin traded nearly 13% percent higher yesterday at auctions.

Chinese government will issue license for bitcoin trading and impose new regulations for preventing the money laundering.

Some time ago China, Russia and European Union (EU) said that they will ban Initial coin offerings (IPO) after that bitcoin price fell by 40% from $5000 to $3000 in two weeks. Afterwards, the statement of International Monetary Fund (IMF) that it recognizes the legitimacy of bitcoin revived the demand for this cryptocurrency again.