Bitcoin refreshes record high above $ 6300, up 500% on the year

Bitcoin, the world largest cryptocurrency rallied hard over the weekend to hit a new all-time high above $ 6000 mark, after having reached the previous record high at $ 6183 earlier this month.

The latest upsurge in Bitcoin is mainly attributed to the renewed expectations gathering pace that China will lift the regulations that halted the trade of digital currency, following reports that the Chinese investors could trade Bitcoin again in the near future.

The world's first cryptocurrency, Bitcoin refresh the record high at $6,306.58 on the CoinDesk Bitcoin Price Index on Sunday. However, further upside looks doubtful, as the price of bitcoin is already up more than 500% so far this year.