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.

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

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