Bitcoin breaches new milestone by smashing past $5,000 mark

World's largest cryptocurrency rose as much as 8.4% and was trading 7.9% higher at $5,209 as of 12:34 pm in London

Bitcoin surged to a fresh record Thursday as the enthusiasm for cryptocurrencies showed little sign of abating.

The world’s largest cryptocurrency rose as much as 8.4 per cent and was trading 7.9 per cent higher at $5,209 as of 12:34 pm in London, resuming gains after a one-day break. As recently as December, bitcoin was trading at less than $1,000 dollars.

Bitcoin tumbled below $4,000 last month after China’s central bank banned initial coin offerings and ordered all cryptocurrency exchanges to close. 

Recent reports that Goldman Sachs Group Inc. is exploring how it could help its clients trade cryptocurrencies are now helping sentiment.

“Everyone