Tensions in Asia propel bitcoin past $4,000 to new milestone

Bitcoin’s swift rise isn’t over.

On Monday, the digital currency was hovering above the $4,000 mark—the new all-time high it crossed over the weekend, when its trading price reached a high of $4,489.99, according to OKCoin data. The cryptocurrency is currently trading at $4,044 level with a market capitalization of $66.8 billion, according to Bitcoin.com.

The “relatively uneventful” blockchain split, which is the culmination of the years-long scaling debate within the bitcoin community as they search for a way to increase the network’s capacity from the original 1MB, caused the price of bitcoin to jump past the $3,000 for the first time.

This time, experts point to the rising tensions in Asia as the reason behind the fresh surge in the digital currency’s price.