Asian investors have been driving the bitcoin price to all-time highs over the last few days on fears North Korea will provoke regional hostilities with its missile launch actions.
Bitcoin hit $4,705 overnight Wednesday morning with Japan and South Korea investors binge buying the cryptocurrency. For August the price has risen 70% despite the technical split within the crypto community over the handling of blockchain, which is the underlying code enabling the digital currency to function as it does. For 2017, bitcoin has soared roughly 450%.
Bitcoin cash, which is the new crypto that forked off of bitcoin in the beginning of this month, is trading around $575. The alternative version of bitcoin is still up about 170 percent from a debut low of $210 on Aug. 1.
Another digital currency, ethereum, climbed nearly 5 percent Tuesday, to around $364. Ethereum is up more than 4,400 percent this year and has gained nearly 79 percent this month.