Bitcoin’s bullish run in what has proven a strong rally in Q4 2016 sees the total value of bitcoin in circulation scale and cross a significant milestone. Bitcoin’s market capitalization is now beyond an all-time high of $15 billion.
According to figures from CoinMarketCap, a total of 169,835 bitcoins were traded in the last 24 hours, which represents a value of approximately $159 million at the time of publishing.
Bitcoin price struck a high of $936.42 today on the Bitstamp Price Index (BPI), gaining nearly 5% in value since the start of day. Today’s rally saw bitcoin price rise from $803.88 at 03:35 in the early hours of Tuesday (UTC) to a new 2016 high of $933.03 at noon. Steady trading ensued before charting a new high beyond $935.
At the rate and direction in which bitcoin has been trending lately, the $1000 bell could be rung soon. Could it happen before the end of the year? In its current trajectory, it’s entirely plausible. 4 more days till 2016’s end.
For a live Bitcoin Price chart, click here.
For the most recent bitcoin price analysis piece from CCN analyst Jim Fredrickson, click here.
All time references are in Coordinated Universal Time (UTC).
Image from Shutterstock. Chart from CoinMarketCap.