Newsflash: Bitcoin Price Pushes Toward $470

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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

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.