Bitcoin goes a bit crazy Fiat currencies are never this exciting. Bitcoin set its most recent high, of just under $65,000, on April 14. After that it had steadily given ground, and that became a headlong crash in the early hours of Wednesday morning. By 9 am New York time, bitcoin hit $30,016 — a fall of almost 54 per cent in five weeks. Over the next four hours, it rallied almost 36 per cent. At the time of writing, the price is $39,000. It was quite a ride. Bitcoin is still blessed, or plagued, with believers rather than investors. There are lots of great arguments for bitcoin, and even more for the blockchain technology on which it is based. While it inspires cultish devotion, it is difficult to analyse as an investable asset.