Within three days, bitcoin exchange rate added $100 and reached the record level since its most overwhelming surge in late 2013.
Over the last week, bitcoin price has added about 16%. The rapid growth began on 21 December at 12.00 UTC. The cryptocurrency rose from $810 to $840 at midnight. By the end of the next day, 22 December, bitcoin traded at almost $860. During the night from Thursday to Friday, the price jumped even further adding $50 within three hours and reaching $910.
At the press time, bitcoin fluctuates around $901-902. It is the highest price the cryptocurrency has reached since December 2013.
The highest rate was recorded on the ItBit exchange, where bitcoin traded for $912.27 as of 7.00 UTC on 23 December.
The total market capitalisation of the bitcoin system recently exceeded $14.5 billion, with the total number of bitcoins in circulation equal to 16,058,763 BTC.
Comparing to last January, bitcoin price has doubled, growing by 107% in a year’s time.
Bitcoin enthusiasts predict the growth of the cryptocurrency will not stop. Commenters on Reddit have suggested that bitcoin will be able to overcome the mark of $ 1,200 in the near future.
“If we hit $1200, then the 2011 phenomenon will begin and it will push price even upwards... Seriously might easily hit 5k before crashing to around 2k or something,” suggested one of the users, recalling the collapse of the bitcoin exchange rate in 2014 after it reached its peak in 2013.
The historical high of bitcoin price was registered on 25 November 2013. The cryptocurrency picked at $1,138 on Mt. Gox, then the biggest exchange platform. On other cryptocurrency exchanges, bitcoin did not surpass $1,000.