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Breaking news: US Sanctions Enforcer Blacklists a Crypto Exchange for First Time

Bitcoin's Price Continues to Hover Just Dollars Below its 2016 High

Bitcoin prices came within a few dollars of setting a new 2016 annual high on 12th December.

Dec 12, 2016 at 9:10 p.m. UTC
Updated Sep 14, 2021 at 1:58 p.m. UTC

coindesk-bpi-chart-70

After a month of toggling, the price of bitcoin remains just out of reach of its annual high.

Since November, the digital currency has repeatedly neared $781.31, the high it set in June, and as we head into the year's final weeks, this game of cat-and-mouse shows no signs of stopping.

Bitcoin prices continually surpassed $779 today, rising to as much as $779.35 at the time of report, data from CoinDesk’s USD Bitcoin Price Index (BPI) reveals. This mirrored bitcoin's monthly movements, which have seen the price rising to $778.14 on 2nd December and falling back to as little as $757.83.

Yet, bitcoin's consistent inability to surpass its annual high of $781.31 could mean this particular level is providing resistance. Should bitcoin surpass this price, it could become a support level, helping provide tailwinds for the digital currency’s price.

Still, bitcoin prices have enjoyed a steady, upward movement over the last week, surpassing both $760 and $770, meaning it could well set a new annual high before the year is over.

Out of reach image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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