Following a recent drop in the price of bitcoin due to the Bitcoin fork discussed in our post, Bitcoin Price Analysis: Market Correction Could See Lows of $5,800
Bitcoin is now bouncing back well and the price has now returned to the high it experienced earlier this year.
The price of bitcoin is spiking, climbing above $7,700 for the first time since Nov. 8.
At press time, the price of bitcoin is at an average of $7,741.44, representing a gain of more than 6% since the day’s open of $7,279. That figure also signifies a gain of over $450, according to the CoinDesk Bitcoin Price Index (BPI).
As of the time of writing, the price hit a high of $7,769.84 today – a figure that brings it close to bitcoin’s all-time high of $7,879.06.
The moves – notably seen in the past two hours of trading – continue an advance that saw the price of bitcoin exceed $7,500 earlier today. By contrast, just days ago, the price of bitcoin fell beneath $6,000, hitting a three-week low below $5,600 at the time.
Though the $8,000 milestone may be in sight – a possibility floated by analysts at Goldman Sachs – additional market data reveals a notable achievement. According to CoinMarketCap.com, cryptocurrency markets have seen in excess of $10 billion in trading volume in the past 24 hours.
This post originally appeared on: https://www.coindesk.com/bitcoin-approaches-all-time-high-as-price-shrugs-off-sell-off/
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