Bitcoin is back near its record high

Bitcoin is back close to record highs in early trade on Thursday morning in London.

The cryptocurrency is down 1.61% to $US4,313.91 at 8.35 a.m. BST (3.35 a.m. ET). While Bitcoin is lower on the day, the digital currency rose in late trade on Wednesday and is now within touching distance of its all-time high of $US4,431.62.

Bitcoin has been on a strong bull run since the start of the year, gaining over 300% since January amid renewed interest in the digital currency and blockchain technology more generally.

Other digital currencies continue to move inline with Bitcoin, which is the biggest cryptocurrency by market value. Bitcoin Cash, which was split off from Bitcoin proper at the start of the month, is down 0.39% against the dollar to $US297.75 on Thursday morning.

However, Ethereum, the second biggest digital currency by market cap, is bucking the trend. Ethereum is up 1.32% against the dollar to $US305.24.

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