Why is Bitcoin Going Up?

Bitcoin traded near its all-time high price late on Thursday after the intense debate over the cryptocurrency's future appears to be heading to a positive end. The price of bitcoin hit a high of $2,948.51 on Thursday evening, just shy of the record high$3,025.47 reached on June 11, according to data from CoinDesk.

Bitcoin continued its rebound today, gaining 7.6 percentage points in the last 24 hours, heading for its June highs, having seemingly overcome fears about the impending August 1 hard fork. The $2,595.37 price earlier today gave bitcoin a$42 billion market capitalization.