In the recent past, Bitcoin prices have been rising and pushing forward.
It is closing in rampantly on its all time high of $1163 which it had scaled on the 29th of November, 2013.
Bitcoin has made some solid gains over the last day reaching $1129.90 after a $110 rise on the Bitstamp Price Index.
Crypto Coins reported, “The newest rally began in the late hours on Tuesday night (UTC), as price chalked $1,022.99 at 23:00 last night. An hour later, price reached $1,035.99. A steady trading period saw price plateau around the $1,045 mark before another surge began at 07:00. By miday, price on the BPI reached $1079.
“At 14:00, price was at touching distance of the next milestone, chalking in at $1,097.25. Although price took a steep correction toward $1,079.37 a mere thirty minutes later, a strong pullback helped bitcoin price rebound in the coming hours to ring in the $1100 milestone at 17:10. A trading flurry helped price push toward a new 3-year-high of $1139.9.
“In a single 24-hour period, bitcoin’s value has gained over 10%.
“At the time of publishing, bitcoin’s value to the dollar on the BPI stands at $1138.01”
Bitcoin has soared high and so has the value of Cryptocurrency. The company’s market capitalisation has risen by almost $3 billion, from $15.4 billion to $18.35 billion. Bitcoin price has gone up by 18% ever since the start of the new year.
It is speculated that the rise of Bitcoin prices is due to huge Bitcoin trading in China, where it is being used as part of some major expenses.