Bitcoin prices -- which just passed $5,000 in October -- topped the $6,500 level on Wednesday. China has cracked down on its use in recent months, which has created more volatility in its price as of late. JPMorgan Chase (JPM) CEO Jamie Dimon called bitcoin a "fraud" that was only good for drug dealers and North Korea. Related: Bitcoin keeps surging to new record highsBoth Dimon and Prince Alwaleed have been proven wrong in the short-term at least as the price of bitcoin has continued to soar. "Some skepticism over Bitcoin was rinsed away, consequently boosting its allure to market players," Otunuga wrote, adding that "it is simply remarkable how resilient Bitcoin has been in the face of significant negativity."

Source: CNN November 01, 2017 17:03 UTC