Bitcoin Rallies to Surpass $10,000 Mark

By Liu Xiao and Wu Yujian

After a tumultuous year, the price of bitcoin surged past $10,000 on Wednesday morning Beijing time, growing more than tenfold from the beginning of the year.

The rise came despite the cryptocurrency market being dealt repeated blows this year. In September, the price of bitcoin dived after Chinese regulators put curbs on fundraising and the trading of cryptocurrencies. Another dip followed in mid-November, after a faction of programmers in the bitcoin community dropped a joint effort to improve processing speeds because the attempt failed to gather enough supporters.

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