Bitcoin Price Passes $570 for First Time Since August 2014

The price of bitcoin is up more than 6% today, according to the CoinDesk Bitcoin USD Price Index (BPI), reaching a level not seen in nearly two years.

Today’s market movements, which have pushed the price to a press time high of $574.43, follow a period of elevated bitcoin trading activity.

This is the first time the average price of bitcoin has risen to these heights since August 2014. On 11th August of that year, USD markets saw a high of $589.87, according to BPI data. A day later, prices peaked at $573.94.

Bitcoin prices have surged significantly in the past week, in markets that trade against both the USD as well as the Chinese yuan.

CNY-denominated markets are up more than 4% today, reaching a high of ¥3,775.83 at press time, according to the CoinDesk Bitcoin CNY Price Index.

May closed with a bitcoin price breakout that exceeded the $500 barrier, a move that followed a then-six-month high seen just two days prior.

Image via Shutterstock

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