Bitcoin hit the news again this week as the price has as achieved its all time high and risen above $12,000.
According to the Bitcoin Price Index (BPI), the price of the world’s largest cryptocurrency by market capitalization is trading now at $12,201.67 at this time. This represents a gain of just over $500 since the day’s open and a gain of more than 4 percent overall.
The new price move above $12,000 also notably pushes bitcoin’s market capitalization beyond $200 billion for the first time, the BPI shows.
Money markets have been eyeing the $12,000 earlier today when the price of bitcoin traded between $11,400 and $11,800. Market analysts predict the price to continue to rise as it has continued to do so month on month throughout 2017.
Other news reports on bitcoin around the world show, as might be expected, exchanges in Asia were the first to cross the $10,000 line late last month and are now trading at even higher prices.
The new bitcoin dollar figure represents an 1100% gain achieved since the beginning of the year. At the beginning of the year bitcoin was trading at $1,000 and has climbed steadily throughout the year, crossing the $5,000 mark in October. The largest price increases were seen in November and large value increases have been achieved over the past 20 days.
The bitcoin total market value of about $213 billion is estimated now more than twice Goldman Sachs’ market capitalization.