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Bitcoin hit another record-high on October 5, gaining 2.7 per cent to reach $125,245.57.

The world’s largest cryptocurrency by market value had risen on Friday for an eighth straight session as inflows into bitcoin exchange-traded funds saw an increase and US equities saw gains. 

In complete contrast to the digital currency’s gains, the US dollar retreated on Friday as the US government shutdown continued, clouding prospects of a truce being reached between the Democrats and the Republicans. This will inevitably lead to a delay in the release of critical government data, such as payrolls, which is essential for gauging an economy’s health. 

 

Also Read: Bitcoin hits record $124,000

The US dollar, meanwhile, is expected to continue its losses against major currencies. 

The last time that the Bitcoin hit a record-high was in August, when it reached $124,480, pushed by friendlier regulations on digital currencies by US President Donald Trump’s administration and strong demand from institutional investors.