Bitcoin at record highs above $ 4000

The BTC/USD pair extended its bullish momentum on Monday, having surpassed Friday’s high of $3580 to refresh record highs above $ 4000 mark.

The latest upsurge in Bitcoin was mainly driven by renewed optimism, after a plan to quicken trade execution by moving some data off the main network was activated last week. 

The crypto currency jumped to a peak of $4,125.17 on Monday, a gain of 15% since Friday.

Justin Short, London-based founder of trading platform Nous, as cited by Bloomberg, noted: “People are starting to price in the consumer demand from Coinbase’s $100 million fund-raising round. That’s a lot of advertising budget. Every $1 million of marketing brings new demand, which increases the price as the supply is limited by design.”