Bitcoin Price Run Reaches $1,200

The bullish bitcoin price trend continues in a strong start to April as price breaches $1,200 on the Bitstamp Price Index (BPI) in the late hours of Thursday (UTC).

In a month where Japan began recognizing bitcoin, the world’s most prominent cryptocurrency, as a legal method of payment equivalent to fiat money, bitcoin has taken significant strides in a rally that began in the last week of March. The price trend shows investors’ renewed confidence in the cryptocurrency after fears of a possible ‘hard fork’, a split of bitcoin’s core software into two rival coins, grew in mid-March.

Bitcoin began April hovering under $1,070 over the weekend, flirting with $1,100.  The early trading hours of Monday pushed prices above the milestone. That bullish run stuck, with price continuing to climb above $1,050 on Tuesday. Over the space of 4 days, bitcoin had already gained 8% in value since the turn of the month.

Despite a brief drop-off on Wednesday, that positive price trend has stuck, as prices made further gains yesterday. BPI data shows price starting Thursday at $1,134 to push beyond $1,150 at 08:00 UTC. The more notable swell began at 15:00, when price spiked from under $1,170 to rally beyond the next milestone to reach a high of $1,201.4 at 22:00.

At the time of publishing, global average prices have dipped slightly toward $1,185.

The price rise has pushed the overall value of mined bitcoins back above the $19 billion market cap.

For a live BTC Price chart, click here.

All time references are in Coordinated Universal Time (UTC).

Image from Shutterstock. Charts from Bitcoin Wisdom and CoinmarketCap.

Last modified: June 14, 2020 9:34 AM UTC

Published:
April 7, 2017 8:29 AM UTC
Posted in: Archive
Samburaj Das @sambdas

Samburaj is the Chief Editor of CCN.com, one of the earliest and foremost publications covering blockchain, cryptocurrency, and financial technology news. He has authored over 2,000 articles for CCN.com. Reach him at samburaj@ccn.com. Visit his LinkedIn profile here or his Muck Rack profile here.