Exactly four weeks since bitcoin split into bitcoin and bitcoin cash, the original digital currency hit a record high Tuesday while the offshoot fell to its lowest in more than a week.
Bitcoin rose more than 6.5 percent, to a record high of $4,703.42, up nearly 70 percent for the month, according to CoinDesk. Bitcoin edged off that high in afternoon trade, hovering around $4,603, still more than quadruple in value for the year and up about 60 percent for August.
Bitcoin cash hit a low of $559.61, its lowest since Aug. 18, before recovering to around $575, according to CoinMarketCap.
Meanwhile, institutional interest in bitcoin is rising. A Tuesday report from financial research firm Autonomous Next identified 55 crypto-related funds.
Some analysts also attributed bitcoin's gains to investors looking for a safety trade after North Korea fired a ballistic missile over Japan.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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