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Bitcoin price continues to rapid upward strides, gaining over $1,000 on Wednesday to firmly shatter the $12,000 milestone with a new all-time high of $12,947 (Coinbase).

The world’s first and largest cryptocurrency struck $12,000 earlier today and, in doing so, expanded to a market cap of $200 billion for the first time in history. That dollar figure represents an 1100% gain since the turn of the year, when bitcoin began trading at $1,000 on January 1st.

Not content with dizzying heights, bitcoin’s momentum stuck and continued to gather pace as the records keep on tumbling.

At 06:30 (UTC), bitcoin price rose above $12,500 as continued optimism in global markets saw price peak to a new all-time high of $12,947 (Coinbase), a gain of nearly 10% on the day.

Market data on CoinmarketCap, which accounts trading in global markets and factors in price premiums, shows bitcoin price peaking above $13,000.

At the time of publishing, bitcoin is trading to the dollar at $12,818. The 1000-point leap to $13,000 in under a day, or even 12 hours, is still in sight.

Stay tuned for today’s analysis…

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Posted by Samburaj Das