Somewhat astonishingly, with today’s low being $11,670, the record price marks a gain of $1,128 in less than 24 hours – a major move that defied predictions of a likely correction due to consistent overbought conditions over much of the last two weeks.
The price of bitcoin passed the $12,000 mark for the first time ever last night, and currently shows little sign of stopping.
Soon before press time, the number one cryptocurrency by market capitalization had peaked at a new all-time high of $12,798.78, as per CoinDesk’s Bitcoin Price Index.
According to CoinMarketCap, bitcoin has risen 9.63 percent in 24 hours, and 18.74 percent over the last 7 days. Trading volumes have climbed slightly over the last day, most notably on South Korean exchanges.
It’s worth noting that, just one year ago, a bitcoin was worth $764. The climb to today’s high means the cryptocurrency has gained 1,574 percent over that time span.
In yet another new record, bitcoin’s market cap has now leapt to $219.6 billion.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
