Bitcoin just broke past the $6,000 mark after reports China is rolling back on cryptocurrency ban

Bitcoin has surged past the $6,000 mark.

A tweet by Swiss blogger @Russian_Market attributed the increase to the fact that China has published no further ban on the cryptocurrency.

Bitcoin is surging after no further ban published in China— Russian Market (@russian_market) October 20, 2017

The news comes a month after China clamped down on mainline residents trading cryptocurrencies. Chinese authorities ordered cryptocurrency exchanges to stop trading, causing the value of bitcoin to drop to $3,226.41 on 20 September.

Since then, the value rose to $5,699.58 at the open today, spiking from $5659.40 at 1.36pm to another all-time high of more than $6,000 this evening.

Bitcoin is up more than 500 per cent this year.