The Bitstamp Price Index came close to hitting the $470 mark late on 26th April. The bitcoin price is the latest in a series of key milestones of $444, 450 and $460, all setting respective yearly highs.
Bitcoin has been experiencing a resurgence, with a rally began last week following a plateau for a month which saw price remain fairly steady, hovering between $400-$420.
At the time of publishing, Bitcoin price was trading at $458.50.
The forward momentum is attributed by common opinion toward the release of the Segregated Witness code by developers. As an upgrade to the Bitcoin protocol, SegWit offers a temporary solution bringing respite to the blockchain by allowing each block to hold a larger number of transactions, until the roadmap to a hard-fork is achieved.
The Bitstamp Price Index struck $440 on April 20th, the day following the release of the SegWit code. The last time bitcoin was trading at the $440 price level was back in January 2016. On April 25th, Bitcoin price called higher to reach $460 after breaking the $450 marker late last week.
The Bitstamp Price Index came close to the $470 price level, hitting $469.44 at 21:15 on April 26th.
For a live Bitcoin Price chart, click here.
All time references are in Coordinated Universal Time (UTC).
Featured image from Shutterstock.
Last modified: June 14, 2020 9:33 AM UTC