(Updated November 25, 2017 at 10:58 p.m. Central time U.S. — Bitcoin crashed through the $9,000 plateau by hitting $9,030.47 on the GDAX exchange at two minutes before 11 p.m. It’s high on the Coindesk Bitcoin exchange index was $8,948.52 at the same moment. Both figures are all-time highs on the respective indexes.)
(Updated November 25, 2017 at 6:16 p.m. Central time U.S. — Bitcoin hit the $8,800 plateau on the GDAX exchange in the 6 p.m. hour. The high for the day so far on the Coindesk Bitcoin exchange index was $8,767.91 at 5:59 p.m. Central time. Both figures are all-time highs.)
Bitcoin made a substantial jump in value during the United States early-morning hours today when it reached an all-time of $8,649.20 on the Coindesk Bitcoin exchange index. During the same hour, 7 to 8 a.m. Central time U.S., the value reached $8,650 on the GDAX index, operated by Coinbase.
Cryptocoinsnews.com reported that the surge in value was sparked by activity in Japan and South Korea, which the publication said are world’s two largest Bitcoin markets.
In South Korea, it was revealed that Shinhan, South Korea’s second-largest commercial bank with major influence over the South Korean finance sector, has begun the testing of its Bitcoin vault and wallet services, which will be offered to its clients by mid-2018. According to Cryptocoinsnews:
The entrance of large-scale banks and financial institutions such as JPMorgan, Goldman Sachs, Fidelity Investments, CME, CBOE, Shinhan, and Man Group have further triggered the demand for Bitcoin from both the traditional finance sector and general consumers. Even for a $350 billion bank like JPMorgan, the failure to adopt Bitcoin and offer services around it will ultimately lead customers and clients to move to other financial institutions that do provide platforms to invest in Bitcoin.
In Japan, Cryptocoinsnews reported, investors are also investing in Bitcoin with around $200 premium. Leading exchanges such as BitFlyer with 800,000 active users are processing bitcoin trades at around $8,800.