Pitcairn reached a record high of more than US $ 19,000 in December 2017, before falling rapidly below US $ 3,100 in December 2018. Since then, the currency has been experiencing a slow recovery.
Today, the price of bitcoin rose 2.4% to $ 7,350 on the Coinbase; after rising 14% on Saturday, the second largest daily jump in the year, and the highest since early August.
The price of the Pitcairn last Thursday was more than $ 6,000, the highest level since 15 November last.
The rise in the price of the Pitcairn is due to the increasing interest shown by the investment institutions in the currency. Fidelity Investments will begin to allow customers to buy and sell encoded currencies, Bloomberg reported earlier this month. Other trading platforms, such as Robin Hood, have already started trading in encrypted currencies.
However, the encrypted currency trading environment still faces its problems that make its future foggy. Last Tuesday, a pirate stole 7,000 KFHs, or $ 40 million from Binance, one of the world's largest exchange platforms.
Concerns about security violations and regulatory uncertainty are among the reasons for the lack of enthusiasm in digital coins.
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