Bitcoin soared above $11,000 again and this time to an all-time new high over $11,700.
According to CoinDesk, the digital currency soared 8% to hit that high on Sunday. Since Thursday however its been gains of over 30% since the currency fell as low as $9,021.85. Bitcoin has soared almost $2,753 since then.
Bitcoin has had a roller coaster ride in the last week after it first topped $9,000, then $10,000, then $11,000 and then fell swiftly down afterwards.
It was last week that Fortress hedge fund manager Michael Novogratz said on CNBC’s “Fast Money” that bitcoin may be at $40,000 by the end of next year. He also has said before that bitcoin is “going to be the biggest bubble of our lifetimes.”
The gains the digital currency has been seeing lately has made Gemini digital currency exchange founders Cameron and Tyler Winklevoss, the first billionaires in the bitcoin arena.
The twins had $11 million in the cryptocurrency when it was just $120 and with it over $11,700, their value is at over $1 billion.