Bitcoin price is rampant in its gains as it continues to push ahead, stepping up a gear since the turn of the year.
At the time of publishing, bitcoin is trading at $1,139.9 on the Bitstamp Price index (BPI) and is closing in on the all-time high of $1163, a figure scaled on November 29, 2013.
Over the last 24 hours, bitcoin price has made gains of over $110 reaching a high of $1,129.90 on the BPI today.
The newest rally began in the late hours on Tuesday night (UTC), as price chalked $1,022.99 at 23:00 last night. An hour later, price reached $1,035.99. A steady trading period saw price plateau around the $1,045 mark before another surge began at 07:00. By midday, price on the BPI reached $1079.
At 14:00, price was at touching distance of the next milestone, chalking in at $1,097.25. Although price took a steep correction toward $1,079.37 a mere thirty minutes later, a strong pullback helped bitcoin price rebound in the coming hours to ring in the $1100 milestone at 17:10. A trading flurry helped price push toward a new 3-year-high of $1139.9.
In a single 24-hour period, bitcoin’s value has gained over 10%.
At the time of publishing, bitcoin’s value to the dollar on the BPI stands at $1138.01
The soaring value of bitcoin now sees the popular cryptocurrency’s total value in the market at over $18 billion. Since the turn of the year, bitcoin price has swelled over 18% in value. The cryptocurrency’s market cap has leapt nearly $3 billion from $15.4 billion to $18.35 billion, at the time of publishing.
The bullish trend continues in a price run that is speculatively driven by soaring bitcoin trading volumes in China, where bitcoin price has already reached an all-time high in a few major exchanges.
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All time references are in Coordinated Universal Time (UTC).
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