The new year starts memorably for bitcoin, as the bullish trend seen throughout late 2016 continued into 2017, with bitcoin striking a high – at the time of publishing – of $998 on the Bitstamp Price Index (BPI).
However, bitcoin price in China is already above $1000 in its equivalent in yuan, with trading price streak beyond 7,100 yuan (approx. $1022.35). A few exchanges, including the likes of Coinbase and Bitfinex have notably seen price cross $1000 per coin.
Today’s surge began at 10:00 (UTC) when a bitcoin was trading at $965.36. A quick spike saw price reach $974.59 by the hour’s end. A steady period of trading later, price shot up again. This time, price began at $976.91 at 16:15 before soaring toward $993.97 an hour later at 17:20. It wasn’t long before the BPI struck a high of $998 at 18:45. have peaked beyond
Bitcoin price on Coinbase peaked beyond $1000.
On Bitfinex, price reached a high of $1005.
As ever, surging trading volumes in China have contributed to demand and the ensuing rise in value of the cryptocurrency.
Trading on major Chinese bitcoin exchange BTCChina saw price reach a high of 7148 yuan, approx. $1029, this morning.
Bitcoin's activity is being met enthusiastically by adopters and observers alike.
$1000!!!!!!!!! What a way to start 2017. #Bitcoin
— Erik Voorhees (@ErikVoorhees) January 1, 2017
Bitcoin now at $1000, been rising rapidly since @realDonaldTrump's election
— Sheel Tyle (@sheeltyle) January 1, 2017
— Martin (@econexpert) January 1, 2017
And Bitcoin starts a new year crossing $1000 in several exchanges pic.twitter.com/EAexvLtB9D
— Jorge Ordovás (@joobid) January 1, 2017
For a live Bitcoin Price chart, click here.
For today's bitcoin price analysis piece from CCN analyst Jim Fredrickson, click here.
All time references are in Coordinated Universal Time (UTC).
Image from Shutterstock. Charts from Bitcoin Wisdom.