News of cryptocurrency price rise was welcomed by investors worldwide, when the price of the digital currency, Bitcoin shot up to 10300 dollars, making a profit that exceeded 900 dollars, that is about 10 percent gain in just a span of twenty-four hours. At the time of the rise in price, it was announced by a cross border crypto currency trading and exchange agency named Circle, that Poloniex, the foremost platform of trading and investing in cryptocurrency has been acquired by it, which is being deemed as a possible reason of the price spike.
The online posts made by both Circle and Poloniex do not mention anything about the price of acquisition. CryptoCompare also describes Poloniex as the seventh largest shareholder of Bitcoin in US Dollars.
As confirmed by the data and statistics of CryptoCompare, the investors of Japan have been involved with much greater interest in the recent trade market of crypto currency which has resulted in the price rise in the last 24 hours. The Bitcoin trade conducted by Japanese financiers and traders was responsible for about 51% of the entire trading volume calculated in yen.
The price of Bitcoin shot up to more than 10000 dollars on Monday, along with making high profits in the trade market. As confirmed by CoinBase, the leading marketplace of the USA, the crypto currency Bitcoin was getting traded at a high value of 10175 dollars on Monday afternoon. Apart from Bitcoin, Ethereum too had a peak in price by about 4 percent of its previous value and got traded at 863 dollars.
However, nobody could pinpoint on any particular reason behind the increased prices. By Monday noon, the trading size in US Dollars was responsible for about 22% of the entire trading conducted in Bitcoin.