Bitcoin Hovering Near 1-Month Highs

Investing.com – The price of the digital currency bitcoin was hovering near one-month highs on Monday, little changed for the day.

On the U.S.-based Bitfinex exchange, Bitcoin was trading at $ 4,604.50 by 08:10 AM ET (12:10 GMT) the highest level since September 8, having opened at $ 4,612.40.

Bitcoin prices have rebounded after slumping in mid-September when Chinese authorities announced a ban on trading cryptocurrencies in the country.

Regulators and traditional banks are increasingly concerned about the risks of fraud and money laundering in the cryptocurrency space.

At current prices, bitcoin has a total market capitalization of around $ 76 billion.

The price of bitcoin offshoot Bitcoin Cash was lower. It was last at $ 334.67, having opened at $ 434.99.

Bitcoin cash has a total market cap of around $ 5.6 billion at current prices, making it the fourth most valuable cryptocurrency.

Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was down 1.36% to $ 305.53.