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  • Bitcoin posts new high of $17,956.50 on Friday morning.
  • Price has been rising steadily over the week.

LONDON — Bitcoin reached a new all-time high against the dollar in late morning trade in London.

Bitcoin reached a fresh high of $17,956.50, according to data from Markets Insider. As of 11.55 a.m. GMT (6.55 a.m. ET), the digital currency is up 8.6% against the dollar to $17,925.45.bitcoinMarkets Insider

Bitcoin fell as low as $13,000 on Sunday but has been steadily recovering ground throughout the week.

Bitcoin has now surged over 1,500% so far this year. The recent search has been driven by the launch of bitcoin futures contracts on Sunday, which has given institutional investors access to the new asset. Bitcoin futures sold by Cboe currently have bitcoin ending January at $18,500.00.

Regulators are warning both institutional and retail investors to be cautious investing in bitcoin, which is prone to wild price swings. The head of Britain’s financial market regulator said on Friday that bitcoin is not a real currency and warned people could lose all their money if they invest.

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