The virtual currency has powered past $11,000 for the first time, capping a jaw-dropping rally of more than 1,000% since the start of the year. Related: Bitcoin costs as much as $13,000 in ZimbabweAnd the global market for bitcoin, at nearly $190 billion, is still relatively small. No one knows the answer to this question," said Arthur Hayes, CEO of Hong Kong's Bitmex, a bitcoin derivatives exchange. Experts said previously that the $10,000 mark would be a key milestone for the digital currency. In September, it plunged as much as 20% after the Chinese government cracked down on offerings in the digital currency, prompting bitcoin exchanges to close their doors.

Source: CNN November 29, 2017 02:26 UTC