The Price of Bitcoin is Now Double What It Was One Year Ago
Global bitcoin prices were more than double their total last year, reaching $470 on the CoinDesk BPI today.
![elephant, dog](https://www.coindesk.com/resizer/hFIaw_dh70dumtohbFe0nVLF2H8=/567x286/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BG6MGRIVZJCKZEYGMRJ7IF5IVE.png)
![coindesk-bpi-chart](https://www.coindesk.com/resizer/6ddmSo65ywMIK26W1sYmE6S6kcU=/560x311/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/LQAAIKQHXNHOPIP52OC3O3M2LA.png)
Bitcoin prices have more than doubled over the last year, enjoying a period of reasonable growth as the digital currency continues to establish its legitimacy.
Global bitcoin prices reached an inter-day high of $470.16 on 26th April, more than 100% above the inter-day high of $219.93 reached on the same day in 2015.
The currency surpassed $440 on 20th April, the day after developers released Segregated Witness, code for a protocol update that would allow blocks on the bitcoin blockchain to hold a greater number of transactions.
Bitcoin has continued to benefit from this momentum, climbing past $450 on 21st April and $460 on 24th April. This ascent continued until the currency rose reached the aforementioned price of $470.16 at 18:00 UTC on 26th April.
The growth bitcoin prices enjoyed over the last week provides a contrast to the holding pattern they experienced in the several weeks beforehand. For roughly a month before the recent rally, bitcoin prices were locked in a range between $410 and $440.
The upward movement experienced through the week ending 26th April also provides a contrast to the sharp gains bitcoin experienced in late 2013, when its price skyrocketed from roughly $200 to more than $1,000.
Charles L. Bovaird II is a financial writer and consultant with strong knowledge of securities markets and investing concepts.
Follow Charles Bovaird on Twitter here.
Elephant and dog image via Shutterstock