Bitcoin
$6,478.45 0.17%
BTC · 57w

Just a sober reminder that this week's plunges are still higher than all-time highs of just a month ago. #hodl

 

The price of bitcoin has risen sharply, exceeding the $3,200 level for the first time on the CoinDesk Bitcoin Price Index (BPI).

The market advance began after 1:00 UTC, when the price of bitcoin climbed above $2,900, market data shows, crossing the $3,000 line around 3:12 UTC.

Markets hit a high of $3,216.02, according to the BPI, and at press time are currently trading at an average of $3,154.94. Per the BPI, bitcoin's price hasn't been above the $3,000 level since June 12.

The price advance also pushed bitcoin’s collective market capitalization past the $50 billion mark for the first time. According to the BPI, bitcoin’s market cap is around $52.35 billion at press time.

As might be expected, market volumes jumped along with the price. Data from Bitcoinity shows more trade volume during the past several hours than at any other point during the past week.

Hot air balloon image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

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.

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