Bitcoin's rally is pausing -- but Bitcoin Cash is popping

Cryptocurrency investors are booking profit on Friday, with Bitcoin seeing a small price dip after setting new records on Thursday.

Bitcoin charged past $US4,400 a coin on Thursday, setting a new record high in the process. On Friday, however, traders appear to be booking some profit — Bitcoin is down 2.2% against the dollar to $US4,286.31 at 7.30 a.m. BST (2.30 a.m. ET).

Bitcoin has rallied over the last week. The digital currency broke through $US4,000 a coin for the first time ever on Sunday and has since added a further $US400 to its peak, although the rise has not been in a straight line. Bitcoin has rallied over 300% since the start of 2017.

Elsewhere, Bitcoin Cash is seeing huge gains against the dollar. The cryptocurrency, which was split off from Bitcoin at the start of the month, is up 13.6% to $US506.19 at the time of writing.

Ethereum, the second biggest cryptocurrency by market value after Bitcoin, is up 0.9% against the dollar to $US303.83.

Get the latest Bitcoin price here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.