On what could prove an eventful day for the cryptocurrency in the lead-up to the SEC’s ETF decision, bitcoin price soared to a new all-time high of $1,350 on the Bitstamp Price Index (BPI).
Friday began with bitcoin trading near the $1,200 mark before sinking to a low of $1,176 at 07:20 (UTC). After flirting the $1,200 level through most of the morning, bitcoin was trading above the mark at midday. The soaring leap was yet to come.
At 13:10, bitcoin was trading to the dollar above $1,200. A frenetic 15-minute trading period saw price soar to $1,350, gaining over 13% in value. Correction quickly ensued, with price falling toward $1,250. Bitcoin’s previous all-time high was charted on March 3rd when price reached a peak of $1,298.
At the time of publishing, BPI data shows bullish signs, with bitcoin trading at $1,286.
Developing…Stay tuned for ETF coverage.
For a live Bitcoin Price chart, click here.
For the most recent 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.
Last modified: May 21, 2020 10:01 AM UTC